When you have decided to start your own business, the first thing you need to do is to work on a business plan. A business plan is very important. This is because, a business plan serves as a compass for the direction your business will take in the future. Furthermore, a good business plan can act as a management tool that can help you focus on where you are and where you want to be in the future. This will help you to maintain your daily tasks well managed and will also help you to achieve long-term goals as well. If you decide to start your own business without a business plan, it is likely that your business will end in disaster.