Everyone has a plan when they first venture into the world of business. A business plan, more specifically. But not all business plans are written. This is particularly true if you are the only stakeholder or investor. 

However, even if you are starting up a business as a one man show, there will eventually come a time where a third-party person asks you for a copy of your business plan. At that point, you'll likely have one drafted up, with a considerable amount of effort, that even you are proud of the research you present. But once the business plan is gazed over it gets filed away and you begin to wonder whether, or not, the plan ever provided value. You may even wonder why banks, landlords and investors place so much value on a document that goes into your filing cabinet and is based on a strategy that assume the future (which we all now is hard to predict if you have no historical data).

In this podcast episode, we discuss  the downsides and upsides of having a written business plan. Join us on the debate.