The Dos and Don'ts of Writing a Great Business Plan

Preparing a business plan is like outlining an itinerary for a road trip. You'll want to have a clear, objective map that you can follow step by step while developing your business.

"A business plan is absolutely vital as it navigates your business on the road to success," said Joel Klein, founder and producer of BizTank and the B-Tank platforms. "Only by setting a plan that outlines where you want to go, along with a plan of action on how you are going to get there, will a business owner know if they are heading in the right direction and how far they are from their final destination."

Your business plan should guide you throughout the startup process, available as help for any problem that may arise. Based on advice from our expert sources, here are a few specific dos and don'ts to consider while formulating your plan.

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