Many small business owners and startup entrepreneurs forego the steps involved for developing the business plan, and even though you may not need one to get your business in gear, there are some valuable reasons to create one. Your business plan serves a guide map and plan for each of the ‘departments' involved, and can really help you refine your business processes from day one. Many small business owners simply think they do not have the time to put one together, or are overwhelmed by the different sections required. If this sounds like you, just keep in mind that you can use it as a self-referencing tool as your business grows, and you can develop and modify it every step of the way!

Here are just five key reasons to write a business plan:

1. You can address each area of your business at once. Start by brainstorming; if you're reluctant to get things down on paper, take your time and break out each area of your business into different sections and just start brainstorming. You will need to make categories for financing, startup cost estimates, your mission statement, and other general areas before getting into details. Use a sample business plan as a guide to help you organize your information.

2. You will have something to reference as you get busy with setting up. Having even a simple template or blueprint can help keep you on track as more projects are set in motion. Many startup entrepreneurs become easily bogged down with deadlines and due dates, and lose sight of the ‘bigger picture' a few months down the road. Your business plan serves as a simple guide and can be a work in progress; just be sure to keep copies of changes so you can visually see your results and growth any time you need to!

3. You'll have an outline available for potential investors. Even if you're not looking for financing immediately, it's a good idea to have a presentation and summary of your business available so that you can share it when needed. Again, this will be a work in progress so you can update it whenever you need to. Summarizing data is a great way for you to refresh your own memory on what is happening with your business operations at any given time.

4. You can develop ongoing strategies. A business plan will let you ‘capture' your business as it stands today, and then let you create and develop strategies based on your current standing. This is the ideal starting point when you need to plan; get your basics down in writing, then let the brainstorming begin!

5. You can refine your mission and purpose statement. Your mission statement will help you develop your fundamental goals, allowing you to construct a business of value and purpose. Sometimes a definition of your clear goals is all that's needed to answer many of the grey areas of small business development. Not only will you be able to make purposeful decisions as you move ahead, but you'll have a firm position to filter out unnecessary information, projects. The result? Faster goal achievement!

These are just five key reasons to work on a business plan for your small business venture. Whether you're a startup or a long-time business owner, simply defining your core purpose can help move your business in the right direction.