Writing a Business Plan to Convince Yourself Not to Go For It – Is That a Good Reason?

There are many great ways to write a business plan; and a huge number of reasons why you should do it. I’ve often marveled at the fact that MBA students are taught how to write a business plan, and I think this is probably the best things they teach you in business school. Besides finance, I think writing a business plan is one of the most important things that you can learn in an MBA class. But let me tell you one of the best things about writing a business plan; something that they usually don’t teach you in MBA school.

You see, it is my professional opinion that the best reason to write a business plan, is not to convince yourself that business will work, not trying to prove that it will work on paper. Writing business plans with the thought of proving a business will work is defeating the purpose, because you can make anything look good on paper, but actually doing it is a different story.

Therefore, I’d like to remind you that when you create such a plan in your business, you should also consider that you might find out that it is a dumb idea, thus, convinced yourself not to go for it. That’s okay; that is a very good thing if that happens.

Consider if you will how many hundreds of thousands of dollars, or even millions of dollars in startup capital you will save, not to mention all your time and energy if you never start a project or a business that is eventually going to fail. Do you see the point? You should, because this is probably the best reason for preparing, and business planning that you could ever find. Please consider all this.