Preparation and planning are essential to establishing a viable business. The most important strategic choices are made in the beginning.
Good preparation is important for your own sake, and perhaps even more important in relation to all those whose support you will need in the start-up phase and during day-to-day operations. If you want to instil trust, you must be able to document thorough preparation and realistic plans.
Note that you may need special permits/licences to operate a business in certain sectors.