Lack of plan is a good plan for failure. Any business project always includes certain amount of risks. It is almost impossible to see the full picture of the business project from the biggening till the end, predict all the possible risks that you will be facing until you put all of your thoughts on the paper, conduct proper research, and read the whole document upon completion by yourself to minimize your fear of unknown and anxiety after reviewing your vision in writing in full.
Therefore, it is very important to have business plan written towards any size of the business project in order to de-risk the experience as much as possible and showcase your planned assumptions to yourself including any other possible audience. It is very well known that people will only believe in what they see rather than what they hear.
Ideas don’t come out fully formed they only become clear as you work on them. All you need to do is just to get started and stay consistent throughout the way. Any final successful result it is always an outcome of a consistent work in progress, same as in business any venture starts with an idea which is a raw material for the final destination of the entrepreneur’s vision.
It’s an art to convert an idea into something visual and or tangible same as in sculpture that you get the clay, you get the vision and you need to put work and hard labor to convert the clay and the vision into a sculpture. Same with the business planning, the idea is your vision, the business plan is your clay, and the work/hard labor is your time to be put in for your “sculpture” business final outcome for everybody eventually to see and experience.
What is the business definition? Is business defined as a noun/entity or is business defined as an activity/environment? As you dived into the business world of interactions, you understand eventually and precisely that in business people work with people therefore the exact definition is activity/environment in which people are constantly interacting in order to generate business truncations and experiences during which the participants are exchanging money for products/services.