A good Business Plan needs to have a Vision, a Mission Statement, Financial Goals and Objectives and an Action Plan. Without these features it is just a Wish, not a Plan. Make it succinct, understandable and believable. A Business Plan is vital to forecast the path of the business. It helps to determine if you have a financially viable business. It will also help you to keep track of your results, and to see if you are on target. If you need to borrow money to set up or to expand the business, your Bank Manager will ask to see your Business Plan.