“Nobody ever wrote down a plan to be broke, fat, lazy or stupid. Those things are just what happens to you when you don’t have a plan.” – Maerlan Rico Lee
At it’s top level, the process of planning a new venture and considering all the pros and cons of self employment is essential. You would normally start mulling an idea but eventually you should start taking these thoughts and formalising them … with the logical end result being a business plan.
A business plan can come in many forms and be for many purposes, but the single most important thing is that it is real … that it is a representation of what you actually want to do and intend to do.
Your plan is likely to change over time and through events, but the principles, vision and ethics of the business you create should shine through and be an immovable foundation.
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Be realistic about your own abilities! If you’ve never written a plan before then ask for help – accountants, bank managers and business coaches & consultants all offer their support and expertise to help guide you through this phase.