The preparation of a written business plan is not the end-result of the planning process.
Realization is the ultimate goal.
However, the writing is an important intermediate stage. For an established business it demonstrates that careful consideration has been given to its development, and for a start-up it shows that the entrepreneur has done his or her homework. A formal plan is just as important for an established business, irrespective of its size, as it is for a start-up. Provides a considered and logical framework within which a business can develop and pursue strategies over the next three to five years. Serves as a basis for discussion with third parties such as shareholders, agencies, banks, investors etc.