It might even lead you to kill off aspects of your business before investing too much time or money in them.
That doesn't mean you have to bust out Word and start the plan from scratch.
Creating your business plan is more than just getting your ideas down on paper for potential funders to see.
It's an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities.
A lot of those mistakes (most of them, in fact) are the result of poor planning.
Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.
People don’t want what you sell – they want what they believe they will get, dodge, or acquire based on buying what you sell.
Your job as a marketer is to understand the problems your audience is trying to solve and match your solutions to them.
The Refining the Plan resource that comes with it is helpful, especially if this is your first crack at writing a business plan.
The SBA's template is available to fill out online and then download as a PDF.