Helps you to obtain necessary financing See chart on Framework for a Business Plan, below. A business plan is so important in establishing and managing a business that preparing a written version is only a step along the way, not the end of the process. Once your business plan has been written, it should be revised regularly - the recommendation is at least once a year. Managing a business with a written business plan is much easier than without a plan. Writing is easy for some people, hard for others.
Written words are communication tools.
Learning to use them effectively is the same as for other tools - it requires practice, and the more you use language as a tool, the better your writing will be. If you do hire a professional writer or business consultant to produce a final version of your written business plan, work closely with that person throughout the process. This is important as you need to be familiar with your plan because you will probably have to meet and explain it to business contacts and lenders. The strength of a business plan as a communications tool becomes clear at such a time. Lastly, write a summary and place it at the beginning of the written plan, and call it the Executive Summary.