Most successful entrepreneurs begin their new ventures by writing a business plan.
A good business plan can be useful in organizing your thoughts and giving you a clear idea of where you're headed. Also, if you need financing from a bank or other financial institution, you will have to prepare a business plan to apply for a loan. A sound business plan profiles your business, outlines your financing needs and sets out your assets and liabilities. It should be realistic and achievable and have well-defined milestones by which to evaluate your progress. If you're uncertain about how to write up a business plan, there are many places you can go for information, including libraries, university courses, government agencies and financial institutions.