We are starting a new business in a new area that is changing very rapidly - do we really need a detailed business plan to be successful at this stage?

I think you at least have to have a broad outline of what you want to accomplish and make sure you change it frequently until you feel you have the best strategy

some sort of biz plan is a must have for any start (new business, new product, or whatever ...). Especially in rapidly changing environment. Then it is best to develop variations and try to predict the resul for several different alternative changes.

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MBM | Review your host | Know Vista?

Absolutely a business plan is necessary especially so in the early stages of your business start up. Writing your business plan forces you to look at the details as well as the big picture. You must develop your financials to see if you will need additional funding. You will also learn at what point you should reach break even and when you might expect to become profitable. Of course your assumptions should be as close to true as possible, but you will be revising your numbers continuously.

You will also have a better idea of your target market how you will market your business. And you will learn about your competition. A business plan can be a real eye opener.

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Sylvia
http://smallbusinessstartup.BIZ
Small Biz Startup & Business Plan Help

The real purpose of a business plan is to spend some time thinking about your business. Whether it is a one page or thirty page document it doesnt really matter. The most important thing you should do is to go through each type of question/section that is found in a business plan and think about how your business is going to be positioned.

I think it is time well spent putting your thoughts down on paper before you get started. You can always refine it as you go along

There is a reason why all major companies put together business plans. It is not a fun process but and important step in making sure you are on the right track. I think it is vital that a small business put a detailed business plan together and every year modify the plan accordingly.

When one have plan, he/she has target. When have target, looks for a way to achieve it.

If no plan -> no target -> do not know where to go and how to get there

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