THE BUSINESS PLAN: A ROAD MAP AND A SCORECARD FOR THE FUTURE
The dream is what I look for more than anything else.
-Matsuda-san, Kubota Limited
Investors usually take the advice given in Chapter 2 and study the people associated with a proposed company very carefully before making a commitment, since they realize that a great team with a great product can recover from substantial adversity, including the setbacks caused by a faulty business plan. This is not to say that a great team and a great product don't need a great business plan, however, because the plan serves both as a road map for guiding the company 5 current operations and as a scorecard for subsequently determining how well those operations met their objectives.
The business plan serves many critical purposes. It is: