A business plan is like a road map: you can start driving without one, but you’re more likely to get lost along the way.
To avoid going in circles, develop a business plan from scratch. This will help you focus on the intricacies of your business and allow you to do critical research before trading.
Typically, a business plan may include thorough information on the value proposition, market, competition, customers and their characteristics, business model, marketing objectives, logistics, operational strategies, cash flow projections and an overall strategy development. Its objectives include, among others: