I have a friend and business associate who is probably the world’s foremost expert on buying companies.

Over the past 50 years, it has bought over 200 (lost count) businesses, and it’s still going strong today.

And one of the jokes he likes to make is something like this:

“There are three things that people fear in life: death, taxes and business plans.”

In fact, in his experience, he says that the business plan is the most dreaded part of the entire business buying process.

And yet, it doesn’t have to be.

This is why:

While it’s true that you need a business plan if you want to raise money from a bank, investor, or any other funding source…writing a business plan isn’t that complicated.

In fact, a business plan is basically a sales document with three main components:

1.) How much money do you need.

2.) What do you need the money for?

3.) How are you going to return the money.

And that is.

Watch?

That’s not that complicated, right?

All you need to know in addition to the above is how to put together a business plan (there are books at your local library that can help you with this for free), and you’re ready to go.

Bottom line?

Don’t put off buying a business just because you’re afraid to write a business plan or don’t think you can hire someone to do it for you.

If you simply educate yourself on the subject (again, go to any library and learn for free), you’ll be up and running with your own business in no time.