In looking to the future, management is planning how the company will change to grow. A business plan is the distillation of management's thoughts, strategies and vision for the future. A business plan serves a variety of purposes. It provides a frame of reference for operational decisions. It provides information to prospective investors.
Lenders read the plan for management's strategies.
It serves to measure company performance. It provides a reference to measure change and the accuracy of predictions. It is recruitment tool for key employees. A business plan is your best tool for business success. Plan to succeed.