This is an area that I think can be both over used and underused, sometimes at the exact same time. No business should operate without a business plan; however, it is critical to remember that business plans are not written in stone. They should be fluid and will evolve each and every day as your market changes, you become more experienced and different economist and environmental effects come into play.
One of the first important lessons to learn about planning is that even with the best laid plans, events will rarely go completely as expected. Just relax and accept this as the way of life. Make sure you are not so rigid in your thinking that you have to follow the plan to a T. The business plan is designed to be a guide.
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