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Why You Shouldn’t Create a Business Plan for Your Start-up
Manage episode 482363884 series 3664479
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If you do an online search for “How to Start a (fill in blank) Business,” one of the first things the results will say is to create a comprehensive business plan. If you further investigate this advice, you will see that every “how-to site” lists the same parts of a business plan as being an executive summary, company description, market analysis, organization management, services, marketing and sales strategy, and financial projections.
These sections of a business plan sound about right, but for the person sitting at their kitchen table and thinking about starting an auto detailing business, or maybe a pool cleaning business, this is total overkill. How-to sites include this information and state that it is a must to cover their butt and to avoid any legal ramifications from that person who started their small business and failed, and is blaming the how-to site because they didn’t tell them to create a business plan.
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