Before creating a business plan, an entrepreneur must first research similar businesses in the past.
A business plan can be defined as a formally written document that contains detailed information on how a business, usally a startup, is to be run, its objectives and how an entrepreneur (owner) should achieve its goals in a short-term or long-term period.
This ultimately implies that, an entrepreneur must first research similar businesses in the past before creating a business plan.
Read more on business plan here: https://brainly.com/question/1958071
