The Importance Of Developing A Business Plan

J. Chad Barnett, Contributing Writer

Every remarkable idea that has helped us along through the years started as a plan. Being able to consciously plan out our actions is one of the aspects that make us unique as a species. So why should starting a business be any different?

When I started freelance writing, I was a bit clueless as to what I needed to do. Hindsight being 20/20, I know now that the first thing should have been to develop a business plan of some kind. Having something in front of you in black and white that lays out the direction you want to go, is invaluable.

When you start freelancing, YOU are the business. Like any business, you have to market, develop, and gain a client base. Planning a course of action gives you a guideline, so that you aren't just twisting in the wind. By looking at your business objectively, you can see what your strengths and weaknesses are and act accordingly.

It's not hard to create a business plan. You can even pay to have a company do it for you. My advice is to do-it-yourself. The more you are involved, the more you will get out of the finished product.

No matter which route you decide to take, setting time aside to develop a business plan will give you an advantage over anyone who doesn't.