15 Reasons to Create a Business Plan

1. Grow your existing business
2. Back up a business loan application
3. Seek investment for a business, whether it's a startup or not
4. Create a new business
5. Valuation of the business for formal transactions related to divorce, inheritance, estate planning and tax issues
6. Sell your business
7. Deal with professionals
8. Develop new business alliances
9. Share and explain business objectives with your management team, employees and new hires
10. Decide whether you need new assets, how many, and whether to buy or lease them
11. Hire new people
12. Decide whether or not to rent new space
13. Deal with displacement
14. Share your strategy, priorities and specific action points with your spouse, partner or significant other
15. Set specific objectives for managers