In many cases business plans are very important but so much of the time it is a plan to try to convince someone else that you know what you are doing with your business like banks, investors, partners, etc. Now it is true that a well written business plan can also be a major benefit to your success as well if done right. It can guide you and keep you on track and can be the vehicle to get you were you want to be especially with so many outside forces now days that bombard you. A plan can be extremely important to your success especially when you look at the statistics that says 51% of small businesses fail sometime during their first 5 years.
In this section you will demonstrate your company's ability to succeed through your management plan. Additionally you will help investors to realize your company's potential as far as an employer is concerned. Investors know that good, long lasting employees can help your business to succeed. Therefore they are looking for strong and effective management as well as the ability to retain and inspire employees.