The relative low cost of entry into a home-based business sometimes lends itself to a lack of true commitment on the part of the home-based business owner. It’s pretty easy to just relax with the idea that you can close shop anytime without any regrets and then just drift along with no real conceptual future.
This is where having some sort of business plan comes to the rescue. A written business can keep you focused and committed to achieving your goals. Would you drive in a city you’ve never been to before without any map or GPS to guide your navigation? Probably not and the same should go for your home business.
Don’t worry about being formal; it does not have to be. It doesn’t have to be complicated either. Denise O’Berry has a nice story about a business plan written on a post-it note and stuck on a bathroom mirror!
So just because a business is running from home does not mean it can do without a plan. And don’t be afraid to change it and change it often. Without a plan, even the simplest one, you’ll be setting yourself up to fail.