Organizing your business idea into a written plan provides a prospective business owner with several benefits:
1. Creates a comprehensive to-do list
2. Identifies possible opportunities and risks for which a business can prepare
3. Provides a blueprint to build a business
4. Establishes objectives and allows for tracking of growth against initial objective
5. Introduces the company to prospective partners, distributors, and clients
6. Helps establish a unified company direction for employees and management
7. Clearly defines or delegates responsibilities
8. Educates new employees and managers
9. Facilitates the ability to attract investment capital
10. Enables a bank to evaluate the business for loan financing