Realizing the importance of a business plan

I've come to realize that the importance of crafting a near perfect business plan is not just to explain to potential investors what your business is about. Being able to write clearly and articulate plans is crucial in the world in business. A business plan is a representation of your skills and abilities as a business owner. Sitting down and writing a business plan is much more than just that. It must be tackled in steps and takes time and careful consideration. The writer of the plan must be knowledgeable in all aspects of business. When presenting the business plan, they must also be ready to take on any additional questions that were not represented or fully explained thoroughly in the written description. All in all, there is a lot that goes into making a plan. I'm realizing this for the first time as I am asked to write my own. It's more than just thinking about your company, but what companies already exist, what they're doing, and how you stand a chance.