Just about everyday this question pops up on the Internet: Do I really need a business plan to get funding/pitch an investor/start a business?

Let's put this question to bed: if you're an entrepreneur trying to launch a start-up, then yes, you need a business plan.

How could it be any other way? If you're seeking funding, a business plan conveys critical details about your start-up to an investor. While your pitch obviously should cover some of that ground, your business plan should show in slightly greater detail your [realistic] projections, market opportunity, and funding requirements. Think about it this way: your pitch should get an investor excited about your idea, and your business plan should appeal to their practical side with solid numbers.

Here's where some people start arguing that there's no reason to bother with a business plan because an investor won't read it anyway. While, yeah, it is true that some lenders and investors don't read beyond the executive summary of a business plan (and let's face, given how boring most bps are, would you?), that doesn't mean that it's kosher to show up to a pitch meeting empty-handed. Just having a business plan shows that you've, well, planned. And obviously showing forethought and discipline won't hurt your shot at a securing a loan or investment.

Even if you're not seeking an investment, creating business plan to help you sort out the details of your start-up's launch and first year is not only smart, but downright critical. Going blindly into business without a game plan—particularly in this volatile market—is a fool's errand.

But maybe you knew all this to begin with. My sense is that most people who question the validity of business plans are those who just don't want to put the time or effort into creating one.