No matter what you do, if you want to start a business and be a success at it, it pays to plan instead of just jumping in headfirst. Creating a brand-new business is, for most people a massive leap of faith and a large investment. That means that you need to think strategically about how you’ll run your business and get it from idea to action to profit.

But why would you need to do that? Wouldn’t it make sense to simply start your business instead of planning it? After all, when you have a hot business idea, it may be bad to wait too long because someone else could beat you to the punch.

To explain why you need to take a step back and think about business before you leap into it, think about your most recent new year’s resolutions. Depending on when you watch this course, the odds are good that you forgot about most of them and are not following any of them.

That’s why it’s vital to build a proper business plan so that your business doesn’t end up on the scrap heap like so many forgotten other personal resolutions.