Why would you think about going to business school as a prelude to doing your startup? My most immediate answer would be, “because you are not ready to do it, or you don’t really want to start a business, at all.” If you want to start a business, start it now.

If you take two years to go to Business School, it will delay your startup by that amount of time. Chances are high that the program intensity will not really allow you to focus on your startup as well. Delaying revenue for two years may be fatal.

Another reason not to go to B-School is the cost. If you don’t make the investment, you’ll have more money to put into the business. So, if going to business school is absolutely not a prerequisite for an entrepreneur, what are the reasons that make an MBA potentially worthwhile.

This advice is freely offered by an entrepreneur who did not attend business school, although he has taught on an MBA program for several years.

Here are twenty good reasons for going to business school before you start your business:

1. Challenge: you will be challenged to re-evaluate what you think business is all about; certainly you will revise some of your cherished assumptions about what you think your startup should look like;

2. New skills: the skills you learn may make you dissatisfied with where you work now and propel you faster into your startup; it is very likely that your startup will be based on what you have been doing, but better, and as you stay longer, the relative experience gain will diminish; if your employer pays for your MBA, you may be locked in for a certain number of years service;

3. Business Plan Competitions: your B-School may have a business plan competition that you can enter-the top 25 offer a total of more than $3 million in prizes; while you may not be looking for funding, the experience from entering will be invaluable;

4. Scholarships and mentoring: some B-Schools have entrepreneurship scholarships and/or offer mentoring programs;

5. Business Incubators: there may be an associated business incubator or accelerator in which you can participate-they may involve fees, but they should be modest by comparison with the benefits of access to all kinds of technical/professional help at no additional cost;

6. Filling knowledge gaps: you will fill in gaps in your knowledge base, e.g., if you’re a marketing person who knows nothing about finance, and say, managerial accounting is a required course, you’ll get a rounded appreciation for business as a whole;

7. Valuable contacts: you’ll meet some very interesting people and may find partners for your venture;

8. Meet entrepreneurs: there will be entrepreneurs that you’ll meet and can be good for advice and feedback;

9. Entrepreneurship courses: there may be an entrepreneurship course where you can test out your ideas;

10. Meet companies and researchers easily: when companies or researchers come to campus, you can meet with them;

11. Like-minded people: you are likely to be surrounded by more like-minded people than anywhere;

12. Events to show off your startup: some B-Schools have year-end entrepreneurship showcases and/or elevator pitch events;

13. Internships: internships at entrepreneurial companies are often available through the B-School-ones that you might mnot get on your own;

14. Entrepreneurship clubs: entrepreneurship, venture and hi-tech clubs often exist within the school and can provide opportunities to get feedback on your startup ideas;

15. Technology transfer: there are connections to other faculties, especially, science and engineering, whence technology transfer possibilities may exist;

16. Events for potential funders: B-Schools organize venture weeks and expos, sometimes inviting VCs or Angels to attend;

17. Capstone Projects: as part of an MBA program, there is often a Capstone, where students can build their startup as part of their degree (and get a ‘free’ mentor/advisor); they are a way of bringing together all the student’s learning on the program, so give a great opportunity to refine ideas;

18. Action learning and consulting projects: action learning programs exist in some schools, where groups of students can undertake consulting projects, frequently with entrepreneurial companies;

19. Access to the Business School’s advisory board members: B-Schools generally have an advisory board, with business luminaries of various kinds and who are accessible to students;

20. A place to recruits fans: fellow students will be cheerleaders!

William Keyser, a veteran entrepreneur, is Managing Director of Venture Founders-Sustainable Startup Strategies. Startup Owl offers a wealth of free information and advice to would-be and early stage entrepreneurs.

Will is a veteran entrepreneur with VC experience and he is committed to help business startups to: clarify their business purpose; sharpen their business model; better their business plan; speed their market entry; offer customer value; finance their business right; grow their business strongly; survive their business challenges-more effectively than they might do on their own.

When you choose to take your business on great heights on internet you should require designing business plans first which you will follow while working out on your website designing and applying techniques. A business chart is in a form of a document or a list that you pursue when you’re doing something good and innovative in your business as well as setting up different things for your long lasting customers.

Your venture becomes only your dream version when you fail to get funding and investor for your business plan. You move pillar to post but your dream shatters and you loose your confidence and gradually you tend to give up your admiration and determination in this process.

Your academic know-how become just limited to your exam results and you have no opportunity to put your knowledge into application because you don’t have enough funding to start your dream venture.

You may be having strong and successful business plan but what if you don’t have budget and supporting finance to start your venture. Unfortunately you can’t get loan if you don’t have surety and securities to mortgage. You need guarantor and every one is afraid to lend their support.

The last and ultimate option is to participate in business plan competition. Blog reviews not only helps you brush up your knowledge but also give you head start during peak of your career.

If you win the competition you get millions of dollars as cash prize and that is more than enough to start your business. This business plan competition not only shower fames but also cherishes your image in front of investors and other money lending institute.

In such competition there are renowned entrepreneur that can bid for your ideas and can start your venture on your behalf. It might happen you may be inducted in their firm with reputed post.

Your market analysis and current affair will give impetus to your planning ability. Last but not the least keep constant watch on such competition and grab the opportunity because opportunity strikes once. You can achieve heights when you follow the business rules and strategies. Plan you budget and work accordingly to fulfill the requirements of the business you have set up. Always remember to follow the win approach towards any goal.

There is no shortage of advice on writing business plans out there. Much of the advice on business plans is too detailed. The following is a list of the essential elements of a business plan.

But first a couple of thoughts. First, if you enter a business plan competition as part of a school, keep in mind that you are entering a competition within an academic environment. Some things you learn in school might not be applicable in the real world. For one, you might learn in class that you should include five-year financial projections. In the real world, however, predicting financial performance over five years, especially for a startup, is practically impossible. Second, if you are an entrepreneur with dreams of getting VC funding, a business plan might not be the best use of your time or effort. More on this later.

The Market Opportunity Is there a market need for your product or service? What is your estimate of the size of the potential market? What part of this market can be addressed with your product or service? Has the need been validated with potential customers? The best possible validation of your idea is a paying customer. If your product is in development, the next best would be a customer who has signed a contract to purchase your product or service when it is complete. After that, the next best validation would be some comments from potential customers that praise your product or service as being a solution to their needs.

After you demonstrate a market need, think about customer segmentation. You cannot target all customers initially.

Segmentation naturally leads to a discussion about a go-to-market strategy. This section should spell out, at least generally, how you plan to get your first customers. Be creative here. Imagine you wanted to sell industrial equipment. You could demonstrate a way to get your first customers by including a list of people at various companies who are in a position to purchase industrial equipment (or at least need buy-in before such purchases are made). This list could include the names of the people, their position, company name, and contact information. Someone reading this would think-rightly so-that you know what you’re doing to sell your product.

Finally, give some thought to the business model. What are your potential revenue streams? What is your pricing strategy? What is the planned distribution strategy?

The Broader Context Give your audience the broader “macro” context of the industry. What are the legal and regulatory risks involved? What might make this opportunity an attractive investment right now? What might make it a risky investment? For example, government-mandated regulation easily creates demand for any products or services that will help companies comply with new rules.

The Founders and Management Team Use this section to show that you have a solid, experienced management team that can effectively work together to get a product or service to market.

Conclusion If you are going for venture capital funding, keep in mind that many venture capitalists (VCs) do not read business plans. They are simply just too busy. Still, it might still be a good exercise to at least critically think about the above because any pitch you make would probably need to touch on these. If not, you can be sure the VCs will ask you about them. And if you can’t address the above broad areas in sufficient detail, then perhaps you might not be ready to seek funding.