Welcome to the how of business with your host, Henry Lopez, the podcast that helps you start,

run and grow your small business. And now here is your host. Welcome to the how of business.

This is Henry Lopez. And this episode is all about business plans do you

need a business plan what should you include in them who is the business plan for

and how do you even go about completing one to receive more information about

the how a business including the links to the show notes page for this episode

and to schedule a free coaching consultation with me.

Just visit the howab business.com. So what is a business plan and why do you need one?

A business plan is just a document and it really initially certainly doesn't matter what the

format is of this document, but it's a document that organizes and explains your plans for a new business.

A good business plan not only helps you focus on the specific steps necessary to make

business ideas succeed, but it also helps you achieve short-term and long-term objectives

related to getting your small business launched. It creates an order to a big extent from the chaos

that's part of launching any small business. It helps you communicate your idea, but beyond the

idea, it helps you communicate what is the business model behind this idea that will actually

make it a successful business

and not just a good idea. It helps you validate then that this business model behind the idea

is solid. Of course, we're just projecting, but it's important to validate and to have that

challenged. And I'll come back to this point because

it's so important. And that's one of the key benefits in my experience with developing a business

plan before you launch your business and as you're launching your business. Who is a business

plan for? I think that's another big question that you have to ask yourself.

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