How many people have a businesses plan for their business? Hi document ni important sana kwa biz yoyote una run . Some of the reasons for a business plan are :

1. Set specific objectives for managers. good management requires setting specific objectives and then tracking and following up.

2. Develop new business alliance.

3. with professional such as attorneys a and accountants.

4. Sell and market your business.

5. Valuation of the business for formal transactions related to divorce, inheritance.estate planning and tax issues.

6. Create a new business to establish the right steps to starting a new business eg; what to do, what resources Will be required and what to expect to happen.

7. Seek investment for a business , whether it's a startup or not.

8. Back up a business loan application. Eg investors, lenders usually need a business plan.

9. Grow your existing business.

10. Share and explain your business objectives with your management team, employees and new hires.

11. Decide whether or not to rent new space

12. Hire new people or not.

13. To make sound decisions.

14. To help you identify potential strengths and weakness.

Make a realistic plan so as it may no end up being promises . If you fail to plan, you are planning to fail. *Unless commitment is made, there are only promises and hopes; but not plans.