1.To demonstrate that you're serious about your company. A comprehensive business plan is required to demonstrate to all stakeholders — employees, investors, partners, and yourself — that you are serious about growing the company. Making your plan encourages you to consider and choose the techniques that will help you achieve your goals.
2.To make you do more study and get a better understanding of your market. What are the most significant developments in your field? What are the most serious threats to your business? Is the market expanding or contracting? What is the size of your product/target service's market? Creating a business plan will assist you in gaining a more comprehensive, in-depth, and nuanced grasp of your market. It will also enable you to use this information to make decisions that will help your company succeed.
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