The reasons to have a Business Plan
As a founders of a startup you will want to plan in more detail if you’re raising capital or taking on another venture.
But either way, you need a plan, and here’s why:
1. Founders learn the hard way when there is not enough capital to be set aside or when partners of choice become the deception, or simply no other vehicle to make money is available. Having a plan will ensure take you to a safer path.
2. Since we all start “selling”, a business plan helps get you more involved in your start-up heading in the same direction while you are taking the duty of “business development”.
4. Develop a game plan with priorities, reachable goals, measurable performance. Stick to realistic outcome and do not fantasize.
5. Raising capital (or borrowing) must have a clear and direct purpose. More chances are to obtain capital with a plan than without it. I know at the end it is just written on a napkin but something more formal helps.
6. Your time is now.