Anyone ever write a business plan? Help needed.

[vcvc]

ye i think its a good tool. but you cant just walk in with a swot analysis, like he said it has to be part of something bigger. they would just laugh at you if you presented them with just a swot.

[BoxingGenius27]

Good info fellas.

I've taken a few business and accounting classes in getting my BS. I'll have to re-look at my notes. But I have absolutely no experience in applying what the class taught me to real life.

As far as financial statements, I've been employed for the last 10+ years, but nothing as far as owning a business.

@ Check, you're right. I'm going to have to take some seminars.

[Check]

lol at showing your bank a swot analysis.

SWOT's usually are for inner companies relations, but it can be used in a business plan. You could also show how you plan on fixing the W's and limiting the T's.

[Check]

Good info fellas.

I've taken a few business and accounting classes in getting my BS. I'll have to re-look at my notes. But I have absolutely no experience in applying what the class taught me to real life.

As far as financial statements, I've been employed for the last 10+ years, but nothing as far as owning a business.

@ Check, you're right. I'm going to have to take some seminars.

You really need some classes. It's good that you are wanting to take accounting classes also. Most small business owners don't know jack **** about simple bookkeeping.

[msagrain]

Good info fellas.

I've taken a few business and accounting classes in getting my BS. I'll have to re-look at my notes. But I have absolutely no experience in applying what the class taught me to real life.

As far as financial statements, I've been employed for the last 10+ years, but nothing as far as owning a business.

@ Check, you're right. I'm going to have to take some seminars.

Good luck man, I'll just stick with construction management.

[ANDROIDISM]

But why?

I thought that's what the bank would be for?

My whole goal in this is to pay as less cash as possible, but have either government grants or bank loans pay for everything.

I figured if someone moving to this country with zero dollars in the bank can open a quick-mart or gas station, there should be loans/grants available so you can put zero down, correct??

Or would I have to be a non US citizen to get something like that?

Let me tell you something Banks are not here to help people. The people that most need a banks help are people that would never qualify for a loan. You are wrong in your thinking. A bank will not give you one penny without you have excellent credit and A LOT of money in the bank.

The people who need the less help (people with good jobs, good credit) are the people Banks are willing to help. People with not a lot money, that need money are the people who really need the help, but are the not type of people banks give loans to.


Believe me when I say this, banks are not here to help people that need help.

[BoxingGenius27]

I've never wrote a 'real' business plan but I've read/reviewed enough annual/quarterly reports to give an informed opinion. Do you have an operating history? If so, do you have financial statements? Do you have a forecast and/or budget? The commentary in the business plan should be backed up by financial figures otherwise it's hard for the bank to assess the business' future cash flows and profitability.

I'd be happy to read your business plan and provide some comments/edits.

Thanks BG.

I don't have an operating history.

The last business class I took was in 2006. I have an idea of what I want to do, but I don't know the process of starting a business from start to finish.

Looks like I'll be taking some seminars soon. I forgot how much accounting knowledge it takes. Damn, I wish I paid more attention in class lol

[Russian Crushin]

Well first you'd have to have an actual specIfic plan on what you wanna do before considering a business plan

Either way banks are brutal and like other posters said, you'll need a lot of capital if it's basically your first time.

[BoxingGenius27]

Let me tell you something Banks are not here to help people. The people that most need a banks help are people that would never qualify for a loan. You are wrong in your thinking. A bank will not give you one penny without you have excellent credit and A LOT of money in the bank.

The people who need the less help (people with good jobs, good credit) are the people Banks are willing to help. People with not a lot money, that need money are the people who really need the help, but are the not type of people banks give loans to.


Believe me when I say this, banks are not here to help people that need help.

Based off your experience, would you say banks are looking for me to have a percentage in cash based on the amount I'm getting the loan on?

For example, if I'm getting a loan for let's say 50k, what percentage of that should I have in cash?

If I'm going to have to have a certain amount in cash, I should probably know now what to shoot for....

[brick wall]

so you're just about to start a business?

business plans are supposed to be based on your past business operations but since you don't have that it's gonna be hard for you to get a loan from the bank. you got no business and credit history to begin with. yours is a start up plan but it's based entirely on what you plan to do and achieve. it won't stand alone. you've got to have tangible assets that you can offer to the bank as a lien to your loan.

you can't go to the bank and say you wanna start a business but it all depends on if they will give you a loan or not. you've got to have your own capital to start your business. you go to the bank for a loan if your capital is in the form of fixed assets but you need cash to get your business operational.