“Any business plan drawn up pre 2007/8 would have completely flipped. Never done one myself as I would always find it difficult to predict what may or may not happen in the future... Just my thoughts
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Just looked at my plan from 2005, should have made my first million by 2007 and bought out Yell by 2010.
Oh well, back to the drawing board
I think at the beginning, Biz plans are a good tool to make you sit down and make sure you fully understand your strategy, and get down on paper where you think you are, and where you are going, but any figures, especially at the start up stage will be pie in the sky.
As you evolve, I think the only real need for a business plan is if you need to secure funding, and an investor or the bank may want to see an up to date plan/strategy/vision document.
But I personally think something like an up to date marketing/strategy plan is a good idea, so you have a clear objective for the coming 12 months, if you are looking to grow and expand, but even this will be flexible, as you react to outside forces.