Business Plan Development

When we are asked to explain why Business Plan is so important?, our first inclination is to quote Lewis Carroll.
In Alice’s Adventures in Wonderland, Alice comes to a fork in the road and asks:
“Would you tell me, please, which way I ought to go  from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where–” said Alice.
“Then it doesn’t matter which way you go,” said the Cat.

Primarily, it used for seeking investments, financing and funding from potential investors. Also, as a guide for setting the direction for  you and your company for next 3 to 5 years to come.

Business plans can help perform a number of tasks for those who write and read them. They’re used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better