Now that you realize its importance, the next thing that you should start working on is learning how to make one. But before you have the urge to get your computer going and start writing, here are the qualities of a good business plan that you have to keep in mind.
The most important aspect of business planning (the "What does it all come down to?" part), however, is spending the time to do your research ("due diligence") and critically thinking about these various aspects of your business. Of course, it is impossible to anticipate every detail simply by spending time thinking and writing; it is for this reason that plans are referred to and viewed as "dynamic". However, the more issues and scenarios you are able to come up with ahead of time, the more prepared you will be to handle these as they arise.
Outline any competitive advantages that you may have. Do you have any catering business qualifications or skills? Have you have experience in the hospitality industry? Do you have existing relationships with suppliers or prospective clients?
Whether you are a veteran business owner, have recently begun your own venture, or are still in the dreaming stages, you have invariably spent many hours thinking about and envisioning your organization.