The answer depends on whether you want your business to succeed, struggle or fail? The choice is yours. If you want to succeed then you most definitely need a business plan.
It doesn’t have to be anything elaborate. It can be as simple as listing what you want the business to achieve in the coming year and then break that down into quarters and use dot points to show what you need to do in each quarter to ensure the end result comes to fruition.
To go into your business without a plan of any sort is the equivalent of marrying someone you don’t know. It may work out or it may end up costing you for a very long time to come.
You can download a business plan template here. It’s not one you would use for a loan or your accountant but it is enough to ensure you stay on track and know where your business is headed for the year.