Minnie was thinking about turning her cake-decorating hobby into a full time business. She had found a suitable location in her town and tracked down the necessary equipment on the Internet. She didn’t have quite all the money she needed so she decided to talk with her Uncle Andrew to see if he might be interested in giving or loaning her some of the start-up capital. The first thing Uncle Andrew asked, “So what is it exactly that you are going to do?”
Minnie replied, “Well I think I’ll specialize in birthday cakes – or maybe wedding cakes, I haven’t quite made up my mind yet.”
Uncle Andrew responded, “Which of those has a bigger market? Which of those has a bigger profit?”
Minnie answered, “I guess it’d be birthday cakes – everybody has a birthday. But maybe, wedding cakes would give me more money, because no one wants to scrimp on a wedding.”
”Ok,” Uncle Andrew said. “What about that money? How much do you need? How are you planning to spend it? What sorts of profits do you anticipate? When would you be able to pay back the loan?”

Minnie named the rent and the cost of the equipment she had found, “But, gosh, Uncle Andrew, how would I know what kind of profit I’ll get? I’ll just have to try different prices until I see what works. And I’ll pay you back, I just don’t know how soon.”

Uncle Andrew slowly shook his head. “Come back when you have the answers to those questions and others. What you need is a business plan.”
Minnie muttered under her breath as she left, “I don’t need a business plan. I’m only going to be a small business and won’t have any employees, why would I need a business plan?”
Explain why Minnie should consider a business plan.