Do You Need a Business Plan (Interview)
November 06, 2009, 12:05 PM
A 12-question interview on the latest in business planning, including why you need a business plan and why that's much easier than you think.
Kelle Olwyler Dispelling Myths of Small Business Planning
October 09, 2009, 10:50 AM
A good radio interview by Jim Blasingame, interviewing Kelle Olwyler, on the myths of business planning.
Two Planning Posts You Should Read
October 05, 2009, 5:25 PM
Recommending two good posts on two important elements of business planning. The first talks about increasing accountability in a business, and the second about how planning can make the difference between success and failure.
Looking for That Master List of Startup Expenses
September 06, 2009, 4:35 PM
Answering a reader's question about where to find a master list of startup expenses for a specific business plan. No, there is no list, it depends on what you want, where you are, what resources you have, and your strategy ...
New Business Pitch Site Opens Up
August 28, 2009, 1:05 PM
There's a new business pitch site at pitch.bplans.com that gives you a place to put your business summary and video pitch for free. No promise of investors looking at it, but tips, comments, and a dedicated URL can help your ...
Why Cash Flow Is Like a River
August 24, 2009, 10:30 AM
A 5-minute video looking at details of cash flow for small business, why you want to plan your cash flow, and why cash flow is like a river.
Business Plan Simplifying Assumptions
August 21, 2009, 12:00 PM
Why simplifying assumptions in a business plan? It has do to with diminishing return on effort, not trying to model reality three years into the future in full detail. It's planning, not accounting, and particularly not accounting detail imagined in ...
5 Dangerous Myths of Business Planning
August 13, 2009, 6:10 PM
I posted 5 Dangerous Myths of Business Planning yesterday on the Industry Word blog on the new business.gov community site.
Rant: Who Says Business Plans are Only for Investors?
August 10, 2009, 7:05 AM
Business planning is for anybody wanting to run a business better, or start a new business; but it is too often thought of as only for people trying to raise investment capital ...
About Entrepreneurs Who Say They Don't Plan
August 06, 2009, 6:00 PM
There are so many dumb ideas floating around this collection of misconceptions that I get frustrated. Not that either Henry Blodget or Kevin Ryan are dumb, but they're playing that straw man game again, defining a business plan as something ...
The long and the short of it is to carefully work up a budget and include all possible costs associated with the start up and your anticipated time to generate adequate revenue to cover expenses. Then add a 50% premium to both numbers.
Can you live with that? Can you survive?
You may get very lucky and begin generating big bucks on Day One but you probably won't.
One contractor we know maintains a reserve large enough to keep his business running for two and a half years. That's from a long experienced business person with 40 years in the business.
The bottom line is that when you figure out all of your expenses, find areas where you can substantially cut costs. Do you need to sign the expensive office lease right now and hire a secretary? Could you instead work out of your home and contract with a business center for a virtual office that will supply you with secretarial help and real offices as you need them. That also saves investing in expensive furniture and office equipment.
There are numerous ways to cut coss and cut them you should even after the business is thriving.
Ron D
http://www.start-a-business-faq.com
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