Why write a business plan, if you just know that business will work?

Why write a business plan, if you just know that business will work?

Doing research for updating a book on how to set up an appraisal practice and I am looking for input as to how important this is.

User Comments

1. It is very important to have a business plan. Your investors will need it. Often your new clients will want to see it etc.
   
   A business plan is simply a resume for your proposed business. Its primary importance is that your business plan becomes your calling card. Anytime you are going in to talk to a property manager about leasing space for your business, or you are meeting with a potential lender or investor, your business plan will announce/outline who you are and what your purpose is.
   
   In most cases, a business plan is created to explain and illustrate the vision you have for your business, and to persuade others to help you achieve that vision. To accomplish this, your plan will need to demonstrate on paper that you have a firm visualization of what your business is going to be. It needs to convince others that your business concept can be successful, and that you possess the expertise—alone or collectively—to assure that it will be both successful and profitable.
2. Very important. You need contingencies if this happens or that doesn't happen. Think worst-case scenario. Remember Murphy's Law.
3. if you are looking for investors or getting a loan to start the buisness they arent just goingt ot take your word they want to see some proof why it will work how you will make it work and so statistics on how it is needed in the area you are looking to make it in,