It is definitely not the most exciting part of starting a business. In fact, if you are like a lot of entrepreneurs, you are probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding. Because that is the thing--your business plan is a pretty important.
Potential business partners need to know how their investment will be used, and ultimately, what it will achieve for the business. In this sense, your business plan is like your ambassador - showing how the various elements of your company are integrated into a vibrant whole
Ownership and Management Plan. This section describes the legal structure, ownership, and (if applicable) the management, and staffing requirements of your business.
The resulting document can serve as the blueprint for your business and be supplied to financial institutions or investors if debt or equity financing is needed to get your business off the ground.