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An entrepreneur, according to Merriam Webster's Collegiate Dictionary, is an individual "who organizes, manages, and assumes the risks of a business or enterprise" which is "a project or undertaking that is esp. dificult, complicated, or risky". Therefore, we must think rationally when making decisions so as to grow rather than destroy our undertaking. Usually when an individual take a risk it is taken with the possibility of gaining some type of reward should they be successful in avoiding peril.

The question being asked is, Should entrepreneurs write a business plan? If the entrepreneur is serious about growing his or her business it would be wise to write a business plan. When a business plan is written it gives the entrepreneur a road map detailing the route he or she must take to realize the reward they hoped to achieve when they launched their business enterprise. This is critical because it will guide all the decisions that the entrepreneur will make throughout the life of their business-even in making a decision to quit.

Some will say that they did not or do not believe a written business plan is necessary in all situations but I strongly recommend to all serious entrepreneurs that they reduce their plan of running and operating their business to paper because without a written plan the business becomes, sometimes, too risky even for the individual to run. Without a written plan the decision making process is faster but everything rests in the mind of the owner which therefore hinders the progress of an enterprise in a fast changing business climate.

Running a business enterprise has been previously identified as difficult, complicated, or risky let me now simply elaborate on those three areas to hopefull convince some that a written business plan is one of the most valuable tools an entrepreneur can have.

A business is difficult because there are no gurantees that it will be successful. There are so many things that must be attended to in-order to make a business sucessful until relying on one person's memory is dangerous. Nothing will get done in an expeditious manner if all of the know-how for directing the business enterprise is locked up in one person's mind. For example if an individual knows what he or she wants to accomplish in running the business but fails to communicate this information to others no work can be done until a directive is issued and very little measuring of progress can be accomplished because of a lack of written standards to

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