5 Reasons Why Business Plans Are a Waste of Time — ElopementBiz.com

Do this 2-line exercise every day instead.

photo courtesy of jmwiehl. (n.d.). Create business plan. Envato Elements. Retrieved from https://elements.envato.com/create-business-plan-U7E442R.

For some reason, this stupid piece of advice has been the #1 priority for wannabe entrepreneurs for decades:

In order to start a business, the first thing you have to do is write a business plan.

My reaction? Think of any reference to farm animal excrement, and insert that word here: ________________

While there are certain exceptions to the rule, experts generally agree: skipping out on creating an official document outlining your plans for success could do more harm than good in both the short and long term.

The following are five reasons why writing a business plan is not worth pursuing if you’re looking to start a small business. I understand how intimidating it may seem to forego a step that many “experts” say is crucial; however, by arming yourself with knowledge about why traditional planning practices may no longer apply for new ventures today, you can make more informed decisions when launching your own venture-and potentially save yourself from costly mistakes down the line!

1. Business plans are often based on assumptions and guesses, rather than facts