The Honest answer:
Of course not, then again if your business is seeing net growth already; chances are that you have some form of business plan that you use to navigate the daily endeavors that come with running a business already. However, a business that wants to refine its product and its ability to continuously serve its market will have a business plan written down.
Where should you start?
So, the question you shouldn’t be asking if you need a business plan. Its If you find yourself seeking growth for your company, than one of the best places to start is building a business plan from scratch, or watch over the entire creation of it. So that your idea and vision for your company has a clear path and goals that will stand as milestones as you build success in your company and validity in your brand. The second step is to always be willing to revise and change your business plan to fit the changing circumstances that make up your market.
When should you stop?
Never! When a novelist first drafts a great book, he will try several times to get his work published, and almost always during that time the book will go through several revisions as the writer draws from the experiences and past to create the vision they are attempting to make readers see. This isn’t just true of one hit wonders, but writers who have made huge impacts on the world of literature that we know today. Dr. Seuss, William Faulkner, J.K. Rolling, all stared rejection in the face when seeking a publishing house with some of their greatest works. So, unless you have given up on your business than your business plan can always use some revising.
Finally, the chances are that if you don’t find yourself wanting to draft a business plan, and go through asking yourself what the necessary questions to ask about your business are, than you’ll never know where your business stands or where its heading. This doesn’t mean that having a 50 page business plan guarantees success, because much like a paid education, a position of power, or a piece of machinery, it all depends on how you use it.