By Christian Wechsler at April 27 2020 11:19:42
A valuable source of information about your business that may be required by third parties ; Improved use of your company personal resulting from participation in the business planning process ; Increased employee motivation ; Increased profits and sustained growth.
When I have received business plans, the very best responses come from people who have looked at the risks and have an answer for every question. What you never want is to throw a scenario at your plan and have to answer "I don't know what I would do in that situation". You want to plan for every possible contingency, and certainly all the major risks to the ongoing success of your business.
Describe the manufacturing or operating process and associated costs. Contain believable finical projections, with key data explained and documented.
A mobile phone today is slightly bigger than your thumb. Similarly, a business plan is no longer a document of a hundred pages. Nobody wants to know your business. They want to know your views, your goals, your objectives and your plan of action.