Any activity begun without adequate

Any activity begun without adequate preparation tends to be haphazard. This is particularly true of such a complex process as initiating a new business. Although planning is a mental process, it must go beyond the realm of speculation. Thinking about a proposed new business must become more rigorous as rough ideas crystallize and are quantified. A written plan is essential to ensure systematic coverage of the important factors to be considered in starting a new business. By identifying the variables that can affect the success or failure of the business, the business plan becomes a model that helps the entrepreneur and any employees focus on important issues and activities for the new venture.