If you've been wanting to buy a business, but are holding back because you're freaked out about the idea of putting together a business plan, then this article should help put your mind at ease.

Years ago, I used to actually meet with people wanting to buy a business before they put together a business plan. And I found out after a couple of years that people are afraid of three things -- death, taxes and business plans.

This is no joke. It's a lot like public speaking -- most people would rather die or pay their taxes than put together a business plan. Back when I used to teach about buying businesses at seminars, a LOT of people came to me wanting to buy a business with no business plan. And it's no big mystery that not one of them ever got their financing -- and are now telling their grandchildren how successful they would have been if they had gotten the financing.

Listen: Don't let the idea of a business plan scare you or stop you from going after a good business to buy. A business plan is nothing more than a detailed description of what youre doing. And that's it. No big deal. There's nothing to be afraid of. If the thing makes sense and everything falls into place, you'll get your financing. If you seek investor financing and have a good business plan, you'll have no problem at all getting all the money you need.

The main thing is to keep it simple. Dont let the idea of doing a business plan freak you out. It's not rocket science and if you can't hire someone to do it for you, simply go to the library and read a couple books on how to do it, and you'll be fine.