The answer to this question is, to some extent, determined by our human nature: it’s easier to postpone or avoid doing certain things that require time and effort. In addition, a business plan cannot guarantee your success. This is why most entrepreneurs start to ask themselves questions like “what is the purpose of doing a business plan if things are this volatile in the current economic environment?” or “if I plan something in January, will it still apply in June?“.
In reality, businesses that have gone through the planning stage have a better chance to achieve success because creating a business plan prepares you to deal with challenges that may come from the market. Also, it can help you stay ahead of the curve, thus allowing you to anticipate certain market trends shifts.
Yes, it’s way more easy to say that a business plan will not help and to choose not to do it; you can continue to manage your business based on your instincts and in some instances that may even work. However, if the difference would be between business survival and registering a 30% growth in turnover in a year, don’t you think that it’s worth the effort of writing a business plan?
Plus, the most important thing is not writing a business plan but actually use it!