When should I create a business plan?

When should I create a business plan?

William A. Cohen (Author & Founder, Institute of Leader Arts) gives expert video advice on: What is the key to a successful business plan?; What are the top business plan mistakes?; Should I hire someone to write a business plan for me? and more...

As soon as you decide that you're going in a certain direction and start investigating a business. Once you decide that's what you want to do, you can start working on your business plan. I mean, you want to get a document, you want to get it down on paper. I know someone said until you have it in writing, you don't have it, and there's a lot of truth in that. You see these things and you keep refining them. I mean it's not something that's done overnight. A business plan takes some time so you want to start as soon as you can.