Anyone ever write a business plan? Help needed.

[BoxingGenius27]

Appreciate the info fellas. Keep the suggestions coming.

I green'd as many of you that I could, I'll be sure to finish with the rest when I reload.

[Run]

You also have to keep in mind, ALL BUSINESS formal or informal........

Is about being concise. Nobody is impressed by rhetoric.......filler.......or anything of the sort because it's going to be considered misleading.

Capital investment, overhead, gross/net profit.

All anyone cares about.



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[chav]

I think I want to go the small business route, while putting down as little cash as possible, but letting the bank cover everything. Especially since I'll be providing jobs for the economy. I thought that would be a perk in my request.

Sole trader? I'll have to look at that more.

Either way, thanks for the sound advice Chav.

In real simple terms, those days are pretty much gone where the bank just bankrolls your idea and takes all the risk. A bit like 100% mortgages, they are a thing of the past in most cases.

The bank will help you, but only if you help them. They will lend you cash, but you need to show them just how you intend to make money from the cash they lend you and not just spend it. They also want to see how quickly you can repay their money and with how much interest. They are in business, to do business, so they will help you, but you need to show them how you intend to invest their money and how quickly you can provide them a return on their investment.

You need a solid idea that makes money. You need your income to be higher then your outcome and you need there to be profit that can repay a loan and also enough for you to run a company on. Running a company on the banks money isn't what they want to hear, they want you to be self sufficient fast so they can remove the life support (loan)

Business is simple really, i set my first company up at 23 and have never looked back and have worked for myself from that day onwards. Don't make business more complicated then it needs to be. K.I.S.S (keep it simple stupid)

[BoxingGenius27]

In real simple terms, those days are pretty much gone where the bank just bankrolls your idea and takes all the risk. A bit like 100% mortgages, they are a thing of the past in most cases.

The bank will help you, but only if you help them. They will lend you cash, but you need to show them just how you intend to make money from the cash they lend you and not just spend it. They also want to see how quickly you can repay their money and with how much interest. They are in business, to do business, so they will help you, but you need to show them how you intend to invest their money and how quickly you can provide them a return on their investment.

You need a solid idea that makes money. You need your income to be higher then your outcome and you need there to be profit that can repay a loan and also enough for you to run a company on. Running a company on the banks money isn't what they want to hear, they want you to be self sufficient fast so they can remove the life support (loan)

Business is simple really, i set my first company up at 23 and have never looked back and have worked for myself from that day onwards. Don't make business more complicated then it needs to be. K.I.S.S (keep it simple stupid)

Good stuff Chav.

What kind of company did you start at 23 if you don't mind me asking?

[BoxingGenius27]

Anyone know how family's in poverty that just moved to the U.S are able to start small businesses?

Do they get x amount of dollars upon getting a green card or are there grants solely designated for situations like theirs?

[Run]

Anyone know how family's in poverty that just moved to the U.S are able to start small businesses?

Do they get x amount of dollars upon getting a green card or are there grants solely designated for situations like theirs?

I think a lot of startups have someone backing them financially.

Co-signs etc. But it's a risk issue.......and some institutions are willing to take bigger risks than others. That's just what I've seen.



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[jaded]

There is software to help you put a business plan together. Here is one that i found with a quick search...the basic edition is free.

http://download.cnet.com/Ultimate-Bu...-10380256.html

You can find full editions off of warez sites.

Small business loans are very hard to get...you will pretty much have to back it all yourself. Large loans are easier to get but require a very good and convincing plan...and a certain amount of financial guarantees. It's like anything else...experience and knowledge are acquired assets....and everybody has to start from somewhere. Sometimes ignorance and not knowing that you are likely to fail is what makes you persist and succeed in business. It takes a lot of stamina.