A business plan is a written description of the company’s future; it is a formal statement of the business’s goals, reasons they are attainable, and plan for reaching these goals. A business plan should include a business model, detailed information on your target market, financial projections and assumptions.

Even if most investors do not read the full plan, the process of writing it will help you better tell your story and address questions from investors. Be sure that you can defend each fact, assumption, projection and conclusion that you include in these documents.