Tyler

So I am currently in talks with some people about making my dream a reality. The only problem is I dont know how to put it into business plan. I know what I want to happen, how long before I want it to happen and how I want it to happen, the hard part is writing it down. If anyone has any insight on how to get this on paper please PM me and I will shoot you my email address. Im going to end this Dear Abby style.

Thanks in advance,
Bothered by business plan

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conraddobler

It's not just for them, it's more for you.

Detail, detail, detail.

Basically it should be a tightly written chronicle of your thought process, down to the most minute financial detail.

Start with a description of what you want to do, the draw a real clear and detailed picture of how you plan to do it with very reasonable estimates of all costs and revenues, don't guess, and try to completely avoid using the pie in the sky numbers you might hope for.

It's going to take you a while, don't rush it.

You don't have to go over the minute details like war and peace, present them in some form of spreadsheet form if you want, then briefly detail them so they can see how completely you've thought this through.

Google a few, read them, and see if they sell you.

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When written in Chinese, the word "crisis" is composed of two characters. One represents danger and the other represents opportunity. John F. Kennedy

LVG

Tyler,

I had to do this in the past, and what I did was what CD stated - find a few plans online, then following that format, wrote my own.

You're going to go through many drafts, and you'll want to get someone in the business community to help review it. Contact your local SBA office - they can usually pair you up with someone to review as a courtesy / mentoring process.

I knew I did it right when I stumbled across the plan 6 months ago (I wrote it 8 years ago) - it made as much sense today as it did then, and I had forgotten most of the details.

I'll try to post more later.

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RISE UP DARK SIDE

"The problem with quotes on the Internet is that it is often difficult to verify their authenticity." - Abraham Lincoln

Tyler

Thanks for the responses everyone. That is why I LOVE being part of the ASFN family. You are all so ready and willing to share any knowledge you have that someone else might not.

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conraddobler

Try looking for plans nearest the area you want to go into.

You could find a lot of good information in the good ones as to what to look out for and start thinking like a person who's completely responsible for the entire process, because you would be.

It's not fool proof and you still have to adjust on the fly but it can only help to be more thorough than less.

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When written in Chinese, the word "crisis" is composed of two characters. One represents danger and the other represents opportunity. John F. Kennedy

bankybruce

Try this site.

http://www.sba.gov/smallbusinessplanner/index.html

Lot of cool links to get you going.

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"That kid is back on the escalator"
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"What's a nubian" Banky Edwards, Chasing Amy

jefftheshark

As a guy who who has both written and read a lot of business plans, here's some advise that wasn't already covered by the excellent replies above.

First, you need to know who you are writing the plan for. Are you looking for debt, or are you selling equity for making an investment? The answer to this question should send you down two completely different paths.

Second, be very conservative. I'll throw away even the best written, great looking plan if the projections are too optimistic. I would rather see a lower profit percentage (or even a projected loss) than see unattainable pie-in-the-sky fluff. Imagine what you would like to see in a business partner and tailor your plan accordingly.

Third, write a no more than one page Executive Summary that covers the basics of the Plan. The concept for the business should easy enough for your mother to understand. If she can't see how you are going to make a going concern out of your idea, then the chances are that your investors won't either.

The most important thing in any business plan is whether or not you have enough customers who are willing to pay the amount of their hard earned money that you need them to in order to make a profit. Everything else is just filler.

And last, remember that a business plan is generally a work in progress. Be nimble and willing to change the plan to accommodate the concerns of your investors, but only up to a point. If I'm sitting in a meeting with someone pitching a plan to me, I generally make a suggestion that is so outrageously bad that I know if the person across from me accepts it, that they are not someone with whom I want to work with. Stand your ground when you're sure your right, and be willing to bend when someone has a suggestion that might have some merit. Remember that when you are successful in selling your business plan, that you are going to be tied to these investors for a long, long time. Make sure you look at them as closely as they are looking at you.

Best of luck, and let us know how it works out.

JTS

crisper57

My BA specialized in entrepreneurship and we had to write a ton of these things. Think of it as a roadmap for your dream business.

Include things like vision and mission statements. What is your business all about?
What will you need to start/maintain the business? Be realistic. How much will startup costs be? What are your short/long-term cost/revenue projections?
Who are your customers? Why do they need your product/service? Where are they located? How will you reach them?

Who are your competitors (think outside the box on this one)? How do you differentiate yourself from them?

Include milestones and deadlines to achieve them. Start with small goals like getting licenses, etc and work your way up to the point where you are open for business. Then think beyond that point. How do you want to grow your business?

Finally, think of the plan as a living document. It can be amended and edited as your goals and experiences change.

There are a ton of books on the subject and alot of examples online. If you are writing the plan to secure some sort of financing, include how you would plan repayment.

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Bust

conraddobler

Step one.

Borrow one billion dollars.

Step two.

Fly to Vegas, hire hookers" employee morale booster", do some blow, wander down to the casino floor, trick/payoff a floor manager into letting you bet it all on one roll of the roulette wheel, 30 million on 0 and 00each and the rest on black.

50-50 odds you're comming out a winner.

******update*********

This worked well the first time except for the stupid red numbers.


Next try.

Borrow 2 billion dollars/ go big or go the #$#% home I always say.

More hookers and more blow, and this time buy the floor manager and install a rigged wheel, pop that bad boy for all it's worth, GS5 it to a non-extradition country of your choice.

That's the WS way.

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When written in Chinese, the word "crisis" is composed of two characters. One represents danger and the other represents opportunity. John F. Kennedy

Tyler

LOL wouldnt that be nice?

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