For all of the benefits of the low barrier-to-entry into internet marketing, it's easy to forget the need for a business plan before you get started. Slapping something up online and just crossing your fingers, hoping it works...generally doesn't.
When you apply for a business loan to begin a traditional brick-and-mortar business, you typically have to produce some type of detailed business plan/proposal. Maybe that's not such a bad idea in internet marketing.
I kind of see doing business without a plan like a runner exploding out of the blocks not knowing how to get to the finish line.
So, my question is, how many of you mapped out where you wanted your business to go, before you ever started? If you did, has it been helpful to you? Would you recommend this approach? Or is the feel-it-out-as-you-go approach ok in internet marketing?