Why prepare a business plan?

A chapter from the workbook "The Business Plan Workbook: The Definitive Guide to Researching, Writing Up and Presenting a Winning Plan" 6th edition is presented. It discusses the benefits of preparing a business plan such as the allowing of making mistakes on paper before starting the business, the determining of financial requirements and the imparting of confidence on the business person. It highlights the case study of the business plan prepared for the lifestyle site Live4now.com.