A business plan serves as a foundation for your business. It can clarify your business’ purpose, identify key milestones, set goals, and help with the decision-making process as the venture grows. The plan can also help you identify your target audience and the best ways of reaching them. Plus, it can be used to attract talented partners and employees as your company continues to develop. Finally, if you’re looking for funding from investors (or lenders), a business plan can help with that.