We have worked with hundreds of entrepreneurs over the years (over 75 years of combined experience) in varying capacities: as practicing entrepreneurs, professional equity investors, advisers, and board directors. Through our efforts we have come to appreciate the value of business planning. Those who argue that the business plan is time-consuming and is obsolete the moment it is complete are missing the point. The business plan isn?t just a tool to raise capital, it is a process that helps entrepreneurs gain deep knowledge about their ideas. The discipline that the planning process provides helps you assess the nature of the opportunity and explore ways to execute that opportunity. Will your business model change once you start the business? Absolutely. In fact, going through the business planning process will result in modifications even before you launch the business. That doesn?t mean that business planning is a wasted exercise. We guarantee that the act of business planning will save you countless hours and sums of money in false starts simply because it will help you anticipate the resources required and the pitfalls that may arise. Even though business planning can?t help you anticipate every potential problem, the deep learning will more than offset the costs of writing the plan.