Jim Bower, a friend of yours, has spent the past three years working on an innovative new type of car alarm. He was just awarded a U.S. patent on the device, and is thinking about leaving his job at General Motors to start a company to sell the alarm. Jim is planning to attend a new business confer- ence in Chicago next month, which will feature a number of investors. You know Jim doesn't have a business plan. When you asked Jim what he'll do if he meets an investor at the conference and is asked for a copy of his busi- ness plan. Jim said. "If that happens, I'll tell the investor that I'd rather meet with him to talk about my ideas rather than go through all the work in- volved with writing a business plan. If he insists. I'll put together a plan as quickly as possible and get it in the mail." Describe what is wrong with Jim's thinking.