Are you about to create an online business? Quite likely you’ve been mulling this over for a while and have started to discover and learn some tools to help you get started. So you haven’t given much thought to a business plan. Numerous authors (Benjamin Franklin, Winston Churchill, Alan Katelin) will tell you that “Failing to plan is planning to fail.” So you do some Googling and discover that the topic of business planning comes up frequently but you feel nothing but overwhelm whenever you think about it. And you find yourself asking:
- Do I really need a business plan if I’m only planning a sole proprietorship?
- Do I really need one if I’m not going to be approaching a bank for a business loan?
- What is the point in creating a document that will land on a shelf somewhere?
A Business Plan is defined as “a written description of your business’ future; it tells what you plan to do and how you plan to do it” (Entrepreneur.com). I like to refer to it as a Business Mastery Plan because “mastery” infers success.
If you are looking at playing in an online hobby, you likely don’t need one. But if you are looking at creating a business that has customers, clients and income then you need to build a road map to ensure that you achieve what you are dreaming about.