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Plan of Attack

Is a business plan really necessary for a homebased business?

This story appears in the October 2003 issue of Start Up.

QUESTION: I recently read that the importance of business plans is overrated. To start a homebased business, do I need to have a business plan?

ANSWER: We salute you for both taking to heart what you read, while at the same time, not taking something in writing at face value. We have long held that the value of a business plan for a start-up homebased business is to provoke the thinking you owe yourself before risking time, money and energy on a new venture. Now the research is in.

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