How Important Is A Business Plan? Depends on a lot of factors, as it turns out. Factors include your time to market, your need for venture capital, the target market for your product or service, and so on. That’s a lot of stuff to consider. Let’s say you need a loan to buy a building or tools. In a recent post by Shara Rutberg of CNNMoney.com, (link at bottom of page) she spoke with an assistant director of the Service Corps of Retired Executives, and asked him about business planning: