The most common use of a business plan is to secure funding. Business plans are often created and used as a sales tool - a written presentation to give to prospective lenders and / or investors. (Hopefully) polished and professional, they are used to convince those with money that the plan's principal(s) will be a worthy steward of an investment or loan. While common, this "misses the point" by a several degrees of focus.
A better answer to "Why write a business plan?" is that it is first to determine a project's viability and second to communicate in writing the results of the research. If the research shows areas of concern, the project can be revised. If the research shows insurmountable odds, the project (in the case of a startup) can be dropped while still in the "no harm, no foul" phase.
This approach focuses the principal(s) on the project's key result areas and answers what should be the first question asked - "Is this project a good use of my time and money?". If the answer is "yes", the process creates a knowledge base in the principal(s) to allow them to be "worthy stewards" - of their own resources as well as that of a lender or investor.
We are aware of three directions that you can take which will create a "Business Plan":
Below are links to our business articles, we hope that you find them helpful.
Basic Bookkeeping Made Easy.
The Basic Business Plan.
Be a Successful Salesperson in Five Steps.
How to Get a Business Loan in Five Steps.
How to Overcome Sales Objections in Five Steps.
How to Start Your Own Business.
How to Write a Business Plan in Five Steps.
How to Have Lenders and Investors Eating Out of Your Hand.
Secrets of a Great Business Plan.
What is a Business Plan?
Why Write a Business Plan?