Similar Stories to Small-business Q&a: Don't Need A Business Plan? Think Again on Bing News

"Every successful business has a business model defined by a good idea and good resources," says Dick Hall, entrepreneur, author of business planning books and SCORE Houston mentor. Once you've defined a business model that demonstrates that you can succeed, then it's much easier to produce a written business plan. Hall says, "A well-prepared business plan will explain how you deal with important elements and reduce the risk." The disciplined, systematic approach helps you, and your advisers, to think things through, to ensure all relevant facts are known, and to look at your ideas critically. [...] taking prudent steps to prepare an appropriate business plan which increases your chances of success would seem to make good sense.