That doesn't mean you have to bust out Word and start the plan from scratch.
A template is great--you probably aren't doing anything that hasn't been done before, so it provides a proven structure for your plan. Check out these comprehensive business plan templates you can download for free to get you started: Score is an American nonprofit dedicated to helping entrepreneurs get their companies off the ground.
Recently, I shared 18 Mistakes That Kill Startups, an infographic created by Mark Vital over at Funders and Founders.
A lot of those mistakes (most of them, in fact) are the result of poor planning.
Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.
Creating your business plan is more than just getting your ideas down on paper for potential funders to see.
Business Plan Pro has been the #1 bestselling business plan software for eight years straight.
Find out why in this quick recap of its key benefits.
It's an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities.
It might even lead you to kill off aspects of your business before investing too much time or money in them.