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Help making a business plan

griffgriff subscriber Posts: 1
edited August 2008 in Business Planning
Well here I am all motivated to start a business, there is just one problem, I have never done a business plan before. Can anyone help? What is the absolute first thing that I should do? I already know what business I want to open, so what next???


  • robertjrobertj subscriber Posts: 0 Member
    What is your intended purpose for the plan?
    Will you be using it as an internal guide/ road map?
    Do you intend to seek some type of external capital as part of the startup phase?
  • StartUpSmartStartUpSmart subscriber Posts: 0
    First of all I would suggest getting some help. However, that is a bit of a self serving reply since that is what my firm does. So, outside of that advice, I suggest clarifying what your personal goal for the business is and what you hope to accomplish first. Also, do you need funding for your business as this may shape the structure of your plan?
    Please feel free to connect with me directly if you have questions. Good luck!!
  • bellapriabellapria subscriber Posts: 1
    Definitely use the internet.  There are tons of sites to help you write one.  Also determine what you are writing it for like Robert said.  That will make a difference.
  • griffgriff subscriber Posts: 1
    I hope that having a plan will help me understand the do`s and don`ts along the way, all to many times I have seen businesses fail due to poor planning. I `d rather not be in that bunch! So, with that said, the most important thing (for me) is funding. That initial start-up cost. Do you need a business plan to get funding, i.e loans, grants? Obviously I go to a bank for a loan, but where do I go if  I am seeking a government grant? The bottom line is that my plan will serve as a road map for where I want to go. I you have any suggestions please let me know.
  • peter41peter41 subscriber Posts: 0
    What is your intended purpose for the plan?
    Will you be using it as an internal guide/ road map?
    Do you intend to seek some type of external capital as part of the startup phase?
    <a href="http://asciitech.com">asciisol</a&gt;
    peter418/20/2008 5:38 PM
  • robertjrobertj subscriber Posts: 0 Member
    To acquire capital, you will almost assuredly need some type of plan. First of all, because it will "tell" how much capital you will need and approximately when. We guide people in the development of their business plan - which we recommend they do in stages. Send me a PM with your direct email and I`ll share the initial steps we suggest to our clients.
    As for capital, a bank is but one source for a loan and typically not the most receptive to startup situations. There are over 50 ways to bring outside capital into a business. Their applicability and probability of success depend upon the specific situation.
  • griffgriff subscriber Posts: 1
    hey robert, my direct e-mail address is mgriff11@hotmail.com
  • onlineaddictonlineaddict subscriber Posts: 2
    Here`s a link that has a collection of plan templates. It would be useful while you are creating one.
  • greenbeinggreenbeing subscriber Posts: 0
    hello- I`m in the middle of my business plan- I think it`s a huge pain in the A**, but at the same time I think it`s helping.  On About.Com there is a good article on writing your plan, helping to break it all down.  http://sbinfocanada.about.com/cs/businessplans/a/bizplanoutline.htm
    I`m having a hard time pulling it all together, wrapping it up-- its still overwhelming!!  I need it done asap- to try and get a loan.  Does anyone know how long it takes to get a small biz loan?
  • LolaCLolaC subscriber Posts: 0
    I used the book and software that my grad school professor created. If you`re interested, the book was around 25 bucks and the software was $75. You can take a look at it on the websitewww.bankablebusinessplans.com
    I also used the guide on about.com that greenbeing was talking about and there`s another one on work.com that summarizes the book I was talking about. Here`s the link for that too.
    good luck
  • ElementalUnityElementalUnity subscriber Posts: 3
    I have found a great site, that my local SBDC recommended me.  I am also in the process of this task, and I hope that it comes out great.  Here is the site check it out...
    http://pitchthenplan.com/ElementalUnity6/5/2009 10:01 PM
  • RanksIntlRanksIntl subscriber Posts: 0
    My first question is: what type of business are you looking to start?
    Its clearly already been established that you need a business plan.  As far as the plan goes there are several key components.  If you are looking to use to get some sort of investment, which it seems you are, you are going to need to include not only the basics of your general business outline, financials including a balance sheet and profit/loss statements, management profiles but you will also need market research.  No one will lend to you or invest in your business unless they know that they will have repayment of the loan or a return on investment and the first step to proving that is showing that there is a market for your business or some sort of demand for your supply.  As far as government grants, it takes a proposal and with a new business its hard to come by.  If you would like an outline for a business plan you can email me and I will send you one.  Hope to talk to you soon!
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