When first undertaking a small business opportunity, entrepreneurs may want to plan out every aspect of the company's future. This is a noble goal, but as Bob Reiss of Entrepreneur magazine writes, the plan should be written in pencil.

There are two main reasons for this, Reiss writes: Change is inevitable, and it is necessary to avoid "business plan worship."

Successful business owners are flexible, he says. Rather than fearing the changes that will likely be necessary as a business plan evolves, they should embrace them and make them work to the benefit of the company. There could be any number of reasons to change the plan, but doing so will lead to new opportunities that weren't there before.

When it comes to avoiding business plan worship, Reiss believes a document that is handwritten in pencil provides more room for change than one that is official-looking and neatly typed. He says seeing the mental image of a pencil should be a reminder that the document is not set in stone and change can actually be good.

Though the concept of the business plan has been debated in recent years, experts believe it is still necessary for startup companies to create them. Writing for Cincinnati.com, Rhonda Abrams recently said that making a business plan allows entrepreneurs to prepare polished answers for any questions potential investors may have.




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