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The analysis goes on to say, "Those diminished expectations - plus the pain of the current downturn - are fueling retrenchments in consumer behavior that could fundamentally reshape the economy."

The Internet is a good source because you can find business plans that will tailor fit any industry that you may want to get into - be it a food business, boutique or service - based venture. With samples in the Internet, you can also find plans of thriving businesses. And to someone who is just starting out, checking out plans of successful businesses can greatly help with goal formation. Another plus is that, you can also find free templates that can have you get started as soon as possible.

So, although a detailed business plan may not be required for an online business, I am going to include it here so you can at least look at and consider each section and determine yourself if it applies to your business.

A business plan can be used as a vehicle for accurate communication among principals, managers, staff, and outside sources of capital. It will also help to identify, isolate, and solve problems in your structure, operations, and/or finances. Along with these advantages, a business plan captures a view of the big picture, which makes a company better prepared to take advantage of opportunities for improvement and/or handle crises.

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