QUESTION: I recently read that
the importance of business plans is overrated. To start a homebased
business, do I need to have a business plan?
ANSWER: We salute you for both
taking to heart what you read, while at the same time, not taking
something in writing at face value. We have long held that the value of a
business plan for a start-up homebased business is to provoke the
thinking you owe yourself before risking time, money and energy on a new
venture. Now the research is in.
Peter Economy, the co-author of Lessons From the...