The foundation of any successful business is simple: understanding what you're trying to achieve and what you need to make it happen. One of the most important things a startup can do is spend time elaborating the details of these core points. A tried and tested way to do that is to create a business plan. It helps you clarify your thoughts, identify your best opportunities and present your ideas to mentors, potential investors and lenders. And don't forget the all important 'Elevator Pitch,' the description of your idea relatable in the space of a lift ride. See also 'ADVICE & MENTORING.'