All successful entrepreneurs have worn a suit.

Suits are important because they impress young bank loan managers, and young bank loan managers are entrepreneurship experts according to banks. They are employed to decide if your business plan is any good. (Nevermind that your loan manager was a cashier 3 months ago, and chose a risk-free career which currently pays $11 per hour.)

My first serious business involved a $3000 loan and a business plan. The Canadian government was guaranteeing small loans for small businesses; you just had to write a business plan and get it approved. If you could pay them back early, you'd get a $100 bonus.

So, my very first business made an instant $100 profit.

See! Business plan = instant profit.