When starting a business, Do you prepare a business plan or you act based on your experience?

Question

-Ask a business owner

-Ask your Mom & Dad

-Ask for financials for the company

Answer 1

While your experience can inform and influence your business plan, it's important to have a clear and documented plan that outlines your business goals, strategies, financial projections, and other key elements. This plan can be a dynamic document that evolves as your business grows, but having it from the outset provides a solid foundation and a clear direction for your new venture.