Why Startups Cannot Do Without A Business Plan Every startup begins with a mean idea! You may be itching to launch the next big thing or just to cash in on a novel opportunity. You have done the research and planning and are all gung-ho about getting it off the ground. Writing out a business plan never figures in your scheme of things. Indeed, many entrepreneurs hastily dismiss the need for a business plan, thinking that they have it all in their head anyway! Some even deem that they will get around to making a business plan once things are underway or when they need to seek funding and investments.
Alas, ignoring writing a business plan can very well turn out to be the first nail in the coffin. The lack of planning and organizing can come back to haunt you later.