While only $30-40$ percent of business owners write a business plan, writing a business plan is an extremely good investment of a business owner's time and money. If a company meets with entrepreneurs at a conference for start$-$ups and shows interest in your company, you might provide a copy of the business plan as a way to

encourage a new opportunity

limit further conversations

communicate the merits of the new venture to an outsider

increase a company's competitive position to become a stranger business

force a firms founders to systematically. think through each aspect of the new venture