This ad will close in
Question added to topic Grow Your BusinessFebruary 1, 2011

Do You Need a Business Plan Before Starting a Company?

This is a question from my class. This is to any entrepeneur out there. Also, tell me if you had any assistance with your business plan as well.

Technically, no. There is no law or authority that says you have to have a business plan before you starting. But most people do because it's smart to know what you're doing before you start. You can lose a lot of time and money just guessing. Do you have to have a travel plan before you leave on a trip? No. Do you have to book flights and hotels? No. But would it be a good idea?�

Don't stress out about having a full formal business plan document, at least not at first. Do just enough to reduce the uncertainty and guide your startup with realistic steps and budgets and such. I strongly recommend you look at my site The Plan As You Go Business Plan site, which is entirely free, part of my book of the same name, published by Entrepreneur Press. �

Tim Berry is the president of Palo Alto Software Inc., based in Eugene, Ore., which produces business planning software. He is also the author of 3 Weeks to Startup and The Plan-As-You-Go Business Plan, published by Entrepreneur Press.

0 Comments. Post Yours.

About ASK ENTREPRENEUR

Ask Entrepreneur is a question-and-answer forum for and by the Entrepreneur.com community. Send in your burning business question, or comment on someone else's now. Have a Question? Ask Now

Topics (over 1000+ answers)

Don’t see a topic? Suggest One

Ask Entrepreneur Q&A Hangouts

Google + Hangout With Shark Tank
Google + Hangout With Jason Falls
Google + Hangout With Angela Jia Kim
Google + Hangout With Grant Cardone