By Barbara R at August 05 2019 21:19:30
There are many reasons for utilizing such a document. Is the final document going to be about implementing a decision already having been reached or is it about analysis and recommendations for a newly proposed activity. As noted above, a finished document may be for internal or external purposes. Externally they are often used to solicit funding for a start_up or joint venture. Whatever the purpose, do not confuse effort with say, a marketing or a production plan.
While I still recommend the business planning process, I caution you to realize that a beautifully crafted document does not always equal business success. I've worked with many entrepreneurs who successfully launched without a plan, and some with beautifully written plans that never materialized. You and your business idea are unique. Your planning process will be unique as well. Be wary of one_size_fits_all advice or pronouncements from experts about how you should proceed.