First of all, who needs a business plan? A business plan is necessary for anyone who is requesting money from a bank or an investor. They need to know what you plan to do with your business and if you’re ready for what’s ahead. Most important to them though is that they need to be assured that they’re going to get their money back.
The success of your business depends largely on the decisions you make. Your business plan is the written guide that will detail the start-up and the future direction of your company thus making it important to the business owner as well. It will measure the results against your projections and help you to set realistic goals and make decisions without guess-work.
Now that we know why you need a business plan, let’s determine who needs to write it. Who is going to be the most passionate about the business, know the motivation behind it? Who is going to go the extra mile to do the research that will be necessary to get the most out of the business plan? Think about it. While there are services out there that you can pay to write your business plan, there isn’t anyone else who knows your idea and business goals better than you.
