Benefits of Creating a Business Plan
                     BENEFITS OF CREATING 
A BUSINESS PLAN
INTRODUCTION
The purpose of a business plan is to 
help articulate a strategy for starting 
or changing your business. It defines 
how you will achieve your most 
important business objectives.
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INCREASED CLARITY
A business plan can bring clarity to 
the decision-making process 
regarding key aspects of the business 
such as capital investments, leases, 
resourcing, etc. 
You can't do everything. A good 
Business Plan will help you identify 
business critical priorities and 
milestones to focus on.
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CREATION OF A 
MARKETING ROADMAP
Marketing is an important aspect of a 
business plan. 
It helps to define your target 
market(s), target customers and how 
you will promote and place your 
product / service to these markets / 
customers.
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SUPPORT FOR 
FUNDING
Whether you’re seeking credit from a 
bank or capital from investors, a 
business plan that answers questions 
about profitability and revenue 
generation is often required.
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HELPS TO SECURE 
TALENT
For a business to succeed, attracting 
talented workers and partners is vital. 
Part of a business plan’s purpose is to 
help bring in the right talent, at the 
right time. 
Staff want to understand the vision, 
how the business will achieve its 
goals, and how they can contribute to 
this in their own roles. 
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PROVIDES 
STRUCTURE
A business plan provides structure 
and defines business management 
objectives. It becomes a reference 
tool to keep the business on track 
with sales targets and operational 
milestones. 
When used properly and consulted 
regularly, it can help measure and 
manage your priority areas of focus.
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STRATEGIC FOCUS
Startups and small business need to 
focus on their special identities, their 
target markets, and their products or 
services tailored to match.
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MANAGE CHANGE
With good planning process you 
regularly review assumptions, track 
progress, and catch new 
developments so you can adjust. Plan 
vs. actual analysis is a dashboard, 
and adjusting the plan is steering.
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DEVELOP 
ACCOUNTABILITY
Good planning process sets 
expectations and tracks results. It’s a 
tool for regular review of what’s 
expected and what happened. Good 
work shows up. Disappointments 
show up too. 
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MANAGE CASH
Good business planning connects the 
dots in cash flow. Sometimes just 
watching profits is enough. But when 
sales on account, physical products, 
purchasing assets, or repaying debts 
are involved, cash flow takes 
planning and management.
Source: timberry.bplans.com
THANK YOU!