Richard Branson is one of Britain’s wealthiest entrepreneurs with a net worth of $5 billion. He made his fortune by starting the brand name Virgin – a name now associated with businesses all over the world (Virgin Airways, Virgin Mobile, Virgin Money). In one of Richard Branson’s blogs, he discusses his views on creating a formal business plan for start-up companies. Branson, at the start of his business career, admits to not making a business plan – he thought that it was simply boring. However, he later realized how important a business plan was to keep him on track not only when pitching his idea to future investors, but to keep his mind on the right track as well. This raises a very important point when it comes to business plans. Relating it back to class, we learned that it is vital that you have a sense of direction for your business. And with the help of a business plan, you never forget where your ultimate goal lies. Branson agrees with the importance of creating a business plan at the start of a business’ life, and now, shares his advice for his blog readers to capitalize on.