why develop a business plan?

in the book the enterpreneur's manual, Richard M.White, Jr. states that business plans are "road maps" for business creation: "you identify your origin, select a destination and plot the shortest distance between the two points"



true, a business plan is essentially a blueprint for a business. however, it alaso serves many other purposes:

• a business plan is detailed blueprint for the activities needed to establish a business (i.e. the details of a product or service, the market for that product or service and the management of the business providing that product or service).
• a business plan is also the 'yardstick' by which a business owner measures success in meeting stated goals and objectives.
• also, a business plan is a tool for obtaining a loan from a lending agency, or for attracting venture capital.