Why You Need a Business Plan

3 minute read

Are you ready to get down to business? I mean really, really ready? Do you have a business plan?

While writing a formal plan might not be at the very top of a small business owner’s already full to-do list, it could make the difference between succeeding and struggling. According to a study cited in the HBR (Harvard Business Review), entrepreneurs who wrote a plan were more likely to succeed than their non-planning counterparts.

What is a business plan?

Simply put, a business plan is a document that outlines the goals, objectives, and strategies of an organization. It is used to provide information about the company’s direction and how it w