Entrepreneurs tend to follow the “don’t think, just do” model of starting a business. This attitude can serve founders well in the early days, but it often causes them to overlook some of the essential aspects of building a business.

Writing a business plan is a valuable experience for any company founder, and TechRepublic Premium presents a quick guide to assist you in this process.

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INTRODUCTION

In simple terms, a business plan should be a document that forces you to look at where your business is now and where you want it to go, then make decisions relative to that trajectory.

Arjun Chandar, Founder & CEO of IndustrialML, explains: “Very simply, plans are useless but planning is indispensable. The process of developing a business plan gives you a framework and general principles to both answer questions and to make key decisions as your business grows, even if the decisions themselves need to change with new circumstances relative to when you develop the plan.”

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