Why Entrepreneurs Should Write a Business Plan

Many entrepreneurs scoff at “wasting” time on business planning.  Instead of thinking about running a business, they want to go out there and do what they love.  Before putting in your time and effort, however, it’s worth taking some time to think about where you are going and what you are trying to accomplish.  Otherwise, you may be wasting time and spinning your wheels for nothing.  In a recent entrepreneur.com article, Tim Berry discusses the top ten reasons that entrepreneurs should write a business plan.

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Business Planning Now Can Prevent Problems Later

A well thought-out business plan can also help your attorney plan for and structure your business.  A small amount of planning can make a big difference later down the road.

Allen & Gooch is providing this legal update for informational purposes only. This article should not be construed as legal advice or a legal opinion as to any specific facts or circumstances. You should consult your own attorney concerning your particular situation and any specific legal questions you may have.