A Business Plan is an important document that includes the Business model, Operations, Competitor analysis, market Analysis and Project Financial performance. It helps to get their proposal ready for investors or Banks. A well-drafted business plan is what makes a concept into a business, which act as a guide that helps the management take a critical decision and reach the desired Goal. Business Plan also portrays your vision and mission in front of the investors, it acts as a first impression on private equity or angel investors and helps to understand the business model.
A Business plan is a map that helps you actualize your business model and checks you from deviating from it. It also acts as an internal Analysis that helps the promoters to understand the important financial factors like sales, purchase, profits, cash flow and to predict the Breakeven Point.