Think back to the last term paper you wrote. Did you experience the frustrationof not knowing what to write about and difficulty in getting started? The alltoo frequent result of such frustration and difficulty is procrastination. Many times, students begin the writing process only when they are faced with an impending deadline.
In some ways, preparing a business plan is similar to writing a term paper. Getting started may be agonizing, and you may find it difficult to decide what to say, especially if you lack experience and aren't sure what issues need to be addressed. F.ven when you know the issues, you may have difficulty expressing your goals and the strategies you plan to use for achieving those goals. But just as you learn from writing a term paper, you increase your understanding of a business opportunity as you write your business plan. Carried out correctly, the process of preparing the plan will clarify what you want to accomplish in a new business and, equally important, what factors might determine your success or failure in the venture.
If you have felt pride on completing a term paper, you will feel exhilaration after writing an effective business plan, in anticipation of what may prove to be the most exciting—and possibly terrifying—experience of your professional careen The business plan—its preparation, content, and organization—will serve as the thread that weaves a common purpose through