If You're Making Money, Do You Need a Business Plan?

When Tom Sherburne started manufacturing composite kayaking helmets, he didn’t think he needed a business plan. His Auburn, Ala.-based helmet business, Shred Ready, began as an offshoot of his kayaking school, the Southern Outdoors Center, which had done just fine without a business plan since opening its doors in the summer of 1996.

When it came to writing a business plan, "I didn’t really feel like I knew what I was doing," Sherburne says. "I thought if we were making money and the checkbook was fine, then we didn’t need one."

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