I have a business and offer writing services so, on occasion, I have been asked to write business plans. Those making such requests are generally very eager, convinced of their no-fail ideas, and are being held back only by a lack of funding. Their bank accounts are typically not filled with the cash needed to support their soon-to-be highly profitable, cash-producing enterprises so they go to where they think the money is for them: the bank. Bankers do want to make loans but they also want to avoid loan defaults, so the would-be lenders ask for a business plan.
Apparently, the business-plan request surprises the otherwise hopeful entrepreneurs who then knock on my door. Although I am a writer and can create a financial statement, I am not an inventor, marketing researcher, mind-reader, or a magician. I quickly advise these clients to learn just a bit about business perhaps through business start-up classes offered through the community college or chamber of commerce. Such a process, which would take perhaps a month or two, would certainly delay the start of the business and result in not capturing the sure, hot market that is available today. So, again, the clients look to me, though, honestly, I have never requested or received a business loan.
I have learned, over the years, that it is best to give the start-up clients a list of items they need to give me in order to prepare a business plan. To date, I have never actually prepared said business plans (promises of giving me the information in a few days have never been fulfilled) but it has saved me quite a bit of time that I would have otherwise spent trying to convince clients that they are unprepared.
I developed the list based on Small Business for Dummies (by Eric Tyson and Jim Schell), which is available through amazon.com or the public library. My list is not comprehensive but is enough to get them started...
Business Description
Management
Marketing Plan
Operations
Financial Management Plan
...or scare them away.
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Great article!
Enterpreunering is about business too, not just about love. Altough love is mandatory to suceed.