The process of putting a business plan together affords an entrepreneur with having direction (setting goals), thinking about their business holistically, setting out and evaluating the business model (how the business will make money) and assessing whether the business is worth pursuing (is there a need for my product/service and will the business make a profit or not). Its impossible that everything will happen according to the business plan and even the funders are aware of this. For a business plan to remain relevant and valuable, it should continuously be updated and evaluated as the environment (industry) which the business operates changes.
There is also a huge value in testing the market and experimenting prior to putting a business plan together.
Empower yourself, grow your business!
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