How Important are Business Plans?

To fail to plan is to plan to fail. While a business plan may be a component of a funding request or other effort to secure aid or support, its primary function is to define and establish expectations and the means of achieving those expectations. A business plan is first and foremost for the principals of the business so defined; any other application or viewing is purely incidental to the fact that a business plan lays out for you what it is you wish to accomplish and how you intend to accomplish it, down to and including coping with negative circumstances foreseen or otherwise. Think of it as the owners' manual for your enterprise.

One good reason: If you ever want to get any kind of financing, you'll need a business plan. Try this site:
http://www.quickmba.com/

I recommend you start with the "Entrepreneurship" link and read most of the material. You can then try "Marketing" then perhaps "Strategy". This website is a great primer for someone in your position.

--Joe D. --

The first thing you need to do is take some micro-economics classes and, if possible, interogate an established business man.