The first kind of business plan is 20-pages long, has an appendix, often requires outside help to build. It’s rarely helpful for day-to-day operations. This business plan is the one you take to the bank to get funding. It’s important to build if you need funding, and I highly recommend reaching out to your local Small Business Development Center for a free advisor to help you build it. It’s not something to try and do alone!
But in the real world, a 20-page business plan isn’t very valuable for growing your business because it tends to end up sitting on a shelf doing nothing.