One thing that has stood out to me over the years when meeting with potential clients to discuss opening a new business is that very few and when I say few, I mean less than 40% of them have actually sat down and drafted a business plan in any shape or form before they attempt to set it up. Even though they may have a clear idea in their minds about what their business is, putting pen to paper can be a challenge but when they do, they may discover that even though their initial idea is good, adjustments may be required to make it a reality.
So what is the point of the business plan and why do you need one?
