By Cate Luzio

"Coming up with the million-dollar idea was the fun part. But turning that idea into a successful company requires a business plan. Here’s why: A great business plan helps you plot your course and focus your efforts, which is what it takes to meet short- and long-term goals. It also demonstrates to interested parties—employees, investors, lenders, partners, yourself—that you’re committed to building the company and that you’ve got what it takes."

Read the full article here.