What You Should Be Focusing On At The Early Stage Of Entrepreneurship

Many people who are starting entrepreneurship are advised to write a business plan in the beginning. Even schools of business and entrepreneurship teach that entrepreneurs must have a business plan when taking their first steps into entrepreneurship. But from experience, the need for a business plan at the early stage of entrepreneurship is quite overblown and misinterpreted.

A business plan is a document that would describe how a business is structured and operated. It is mostly required to show investors what your business looks like and what it is worth.

For most kind of businesses, it is difficult to predict revenue and expenses at the early stage. Also, for a new business, Brian Hamilton of the American financial tech startup Sageworks explains in a post on Inc.com that certain aspects ‘have to change daily until we figure out what works and what doesn’t.’