I have often been presented with business ideas for which no serious business plan had been prepared for. When I asked whether they had done a business plan, the excuses I most often got were almost always the same. If any of these sounds familiar, let me walk you through as to why you do need a plan and refer you to some other useful articles and resources.

The Excuses

1. “I am an expert, I got a great idea, I got contacts, etc …”

It is possible that everything is true and that you are all set up for success, but I know from experience that sometimes too much confidence can be the greatest blindfold. Continue reading →