A business plan is essential if one of your goals is to approach potential investors to get your dream off the ground. Even if you are planning to fund the whole project yourself, a well written business plan will make all the difference between winning and failing. If you are feeling a little overwhelmed by the whole process, I can offer several solutions.
First, you can check in with your town directory and see if the Small Business Development Center is offering the 10-week class, “Leading Edge” These classes are usually offered twice a year and are an overview of how to develop a business plan, how to set up a corporation vs an LLC, information about private financing, as well as lawyers, accountants, marketing professionals and other small business owners sharing their tips for success.
However, if you would like some one on one time in developing your business plan for your product or service ideas, then I can help you. Over the years, I have developed an outline that walks you through each step of the way in getting clear about your goals and dreams.
One of the major stumbling blocks with most small businesses starting out is the financing of their venture. Cash flow projections must be in order for any potential investor to even consider. I recommend reading, OPM (Other People’s Money) How to Attract Other People’s Money for Your Investments—the Ultimate Leverage by Michael A. Lechter. This book is a real jewel for information and doesn’t offer fluff but the real scoop on how to build your business without using your own money or resorting to raising money. You will learn how to create strategies for using Other People’s Money to leverage your way to financial freedom, bring investors into your business without giving away the store, locate and evaluate the different kinds of OPM available to you and much more. Furthermore, Abebooks.com has a large inventory of new and used books that is a great resource for inexpensive reading.
The important thing to remember is that you don’t need money to start building a business however you do need a powerful and concise business plan. Once you have accomplished that, you will be on your way. Ready to get started? Contact me soon and I will get back with you shortly.
“Satisfaction does not come with achievement, but with effort. Full effort is full victory.” — Mahatma Gandhi