He put together a business plan and went looking far someone to finance his idea. Without a clear plan that described the business and its profit potential, Gerald would not have gotten anyone to help him finance his venture.
Business plans make investors more comfortable about handing over their hard-earned money.
Good business plans tell them that entrepreneurs have thoroughly thought about all aspects of their proposed businesses. In addition, business plans help entrepreneurs focus on their goals and objectives. Doing without them is like getting lost in a forest without a compass or a map. All entrepreneurs should write a business plan, even if it is only a page long. You must go through it in the proper order in order to understand how to put together a business plan.