ENTREPRENEURSHIP

Detailed explanation-1: -Government agencies in the position to approve or deny important permits or zoning might require a business plan for their review. But as long as the business doesn’t involve anyone else’s money or approval, you can avoid a formal plan.

Detailed explanation-2: -The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.

Detailed explanation-3: -Investors don’t want to see one. Writing one takes time and money. You’ll need to pivot anyway. Planning can be an excuse for inaction. It can limit your thinking. 26-Oct-2016