Welcome to the business buffet side dish. This is a quick snack on a specific area of business.

Today we will present a concise element you need to run your business. Remember to visit

business buffet.page or listen to wherever you get your podcast. It's snack time.

Every business should have a business plan.

In this episode, I'll outline the sections of a business plan format when writing one for your business.

First, why write a business plan?

A business plan is a tool for understanding how your business is put together.

You use it to monitor progress,

hold yourself accountable, and control the business's fate. It also is a sales and recruiting tool for courting employees or investors. Business plans are typically very detailed, but a small or micro-business can get away

with an abbreviated version. While the parts listed below are essential for the full plan,

the level of detail you include for marketing, financial analysis, and operations is up to you, especially if you are going to be

the only one to see the business plan. Think of your business plan like a roadmap for the

destination of your business. Without the roadmap, all roads take you someplace. However,

the destination might not be what you hoped for. So creating a

business plan will give you the sense of direction you'll need to keep your business profitable.

Next, if you're already in business but need, created, but didn't create a business plan,

no worries. It's never too late to get organized.

Create your business plan today. Don't wait. Last point before I dive into the format,

there are lots of business plan creation software on the market. While these programs could

help with the formatting, my personal opinion is they are a waste

of money and time.

Open up your word processor and start typing.

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