There are two main purposes for having a great business plan:
- To serve as a guide during the lifetime of the business. Just as a builder uses a blueprint to ensure that a building will be structurally sound, a great business plan is a blueprint to your business and will provide you with tools to build a strong viable company.
- A business plan is a Requirement if you are planning to seek funding from either banks, financial institutions or investors. It will provide potential lenders or investors with detailed information on all aspects of your company's past, current and future projections.