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[Music] welcome to virtual wisdom finance and accounting tutorials my name is peter and ill be your host in this particular tutorial today i want us to look at a business plan so im going to take you through a business plan outline or what you call a template this simply a guide a step by step guide in writing a business plan so for us to be able to write a business plan we first of all have to understand what it is so what is a business a business plan so a business plan is a written document prepared by any enterpreneur and that which describes all the relevant external and internal elements involved in starting a new venture so for any business before you start off you need to have a documented plan on how youre going to run the venture from scratch and how youre going to run it even after it is set up in that plan is what we are calling a business plan so a business plan addresses both the short and long term decision making short term when youre starting off long term for the