Someone was asking us: I’m thinking of going into business for myself, but I’m not sure where to start?
This is our answer: Sole proprietors going into business on their own are often less likely than bigger companies to take the time to write a detailed business plan.
But they really have as much or more to gain. Writing a business plan — particularly creating a detailed set of goals and objectives — gives you
a simple framework to think about where to begin and how to follow through.
If you’re going into business on your own for the first time, a plan can help you sidestep problems and focus clearly on what you do best.
Most important of all, a detailed and well-thought-out business plan gives
you the confidence you need to go out and start your own business in the first place.
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[...] Introducing a new product or service — or entering a brand new market with a product or service you already have — is very much like starting a business. [...]