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There are a number of reasons why you should have a business plan. First, it is necessary if you are going to look for investors, or if you are going to try to raise any money. Second, it helps you to keep your eyes on important goals you have set for yourself. Startup.wsj.com offers a free "miniplan" that prompts you, step by step, to think through the essential elements of a business plan. You won't be able to save it, but you can print your work, and use it as a foundation for a more thorough plan.