Compose A Winning Business Plan Put it on paper so you can put it into action.

Last month in this column, we showed you how to plan a budgetfor your new venture. With the preliminary business decisions madeand your budget information firmly in hand, your next move is toassemble all of your thoughts and numbers into a formal, writtenbusiness plan.

A solid business plan is your road map for success. It chartswhere you're planning to go with your business and how youexpect to get there. Sure, there may be an occasional detour alongthe way, but by focusing on every aspect of a venture'soperations before getting started, you'll be better prepared toavoid making costly mistakes.

Many new business owners view business-plan writing as a taskdesigned to attract investors, but more importantly, it provides aguidebook for your business so you know what you should be doing,and how well you're doing it, along the way. Experts agree thatbypassing the business-plan stage is a recipe for disaster.