When considering going into business there are a lot of different things to consider:
- Is there a need for your business?
- How much will it cost to set up?
- Who are your customers/clients going to be?
- How will you know if it is successful?
The time put into the development of a business plan will pay off many times over, giving the entrepreneur targets to benchmark success off while identifying some of the risks involved.
In sum: fail to plan, plan to fail.
For more information on the benefits of business plans, see HERE