They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better. They're used by investment-seeking entrepreneurs to convey their vision to potential investors. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan.īusiness plans can help perform a number of tasks for those who write and read them. That's all there is to it-a document that desribes what you plan to do and how you plan to do it. A business plan is a written description of your business's future.
