Planning is the most critical factor for starting a new business successfully. A good plan will help entrepreneurs understand the best time to launch, how to adjust their business over different seasons, and how to cover costs from the beginning. While plans may change, starting a business without one greatly increases the chances of failure. Taking the time to carefully plan is essential to increasing the odds of business success.

2. Business Start-Up 101

3. When you finally know that the time is
right for you to branch out on your
own, you experience a mixture of
excitement and fear unique to starting
your own business.

4. So, here is the primary factor you need
to know to get off to a great start:
Planning.

5. Planning is critical. Many first-timers
tend to skip the process of planning.
They're so excited to get things going that they just
dive right in, without being ready and without
working through all the boring, nitty-gritty
details.

6. Planning serves more than one
purpose, and should be the initial
stage of any business’s development.
With a plan in place, you would know that the best
month to open would be just before summer
hits, and then once established you can adjust
your menu to include hot lattes and soup for the
winter months.

7. You also should know what you need
to do in order to cover your end from
the very beginning.
A plan will ideally give you a reference to review
when the chaos of your business really kicks in.

8. Don’t be afraid of plans.
They are certainly made to be broken, but it's
foolish to start your own business without one.

9. Plans will increase the odds of
your success. They help make
your own luck.