View Full Version : business plan .... ideas ?
OK.... thats it, it has begun ............. I am going to spend the next few years trying to set up my own business.
To begin I am getting further qualifications, and whilst doing that I want to keep my plan alive by working through a business plan. I will need a loan to get started anyway so I need to sell my worth to the bank (or such like!) .
Anyone experienced in these things .... there is loads of stuff on the tinternet but just thought I would ask for some real advice from people who have maybe done it, things they wish they had known before etc.
:)
454697819
09-02-07, 01:05 PM
OK.... thats it, it has begun ............. I am going to spend the next few years trying to set up my own business.
To begin I am getting further qualifications, and whilst doing that I want to keep my plan alive by working through a business plan. I will need a loan to get started anyway so I need to sell my worth to the bank (or such like!) .
Anyone experienced in these things .... there is loads of stuff on the tinternet but just thought I would ask for some real advice from people who have maybe done it, things they wish they had known before etc.
:)
best bet... go see your bank...
straight from the horses mouth.
they should be nice and helpfull considering you want to borrow money!
what bussiness?
:smt017
non of yours, obviously :P
(or mine for that matter :oops:)
Dave The Rave
09-02-07, 01:52 PM
Sorry not sure what the question is: Are you asking about the business plan itself or about what to present to the bank to get a loan?
Generally you will need BP to convince your bank to give you a loan (pending the type of business most likely you will need something to secure the loan).
Certain types of business qualify for Government grants. Make sure you exploit this opportunity if you can.
To advice I would need to know more about your business idea. Sort of things to think about:
1) What sort of business
2) Sole trader, partnership, Ltd etc.
3) Expected turnover
4) VAT status
5) Cash flow
6) Your previous experience
there are many more
Would recommend talking to an accountant to get you going. If you need to talk it through PM me - as this is what I do for living
:cry:
The banks normally have a business plan template on there websites. I'm using the natwest template ATM but thats because I bank with them. There advisors would also recommend you use there template because it is in a format they understand...and it gives you a starting point.
HTH
what bussiness?
:smt017
non of yours, obviously :P
(or mine for that matter :oops:)
No big secret! It seems so far away I feel foolish telling ..... but that's where everything starts I guess. Just a bit of background I work at a boarding kennels, which i run for the owners when they are away etc so i play a decision making role within it, and i also clean up sh*t - literally!
Anyway i have had another stint of running it for the last 2 weeks, with ups and downs, and a few issues along the way, as you would expect, but the long and short of it is that I know I can do it and enjoy it .... even more if it were for myself.
So that is the beginning, I have a partner who is keen to be a part of it, so I need cash and a plan! The qualifications will just sell my knowledge on paper to banks and potential clients.
northwind
09-02-07, 02:18 PM
If there's a local government small business gateway or similiar, speak to them. You can get all sorts from them, from advice to grants.
Some useful guides for you here (http://www.businesseye.org.uk/OnlineGuides.html).
I used BusinessEye when I was starting up as a self employed IT contractor, and they helped an awful lot. All for free too. Unfortunately for you, they only work with a very limited client base.
what bussiness?
:smt017
non of yours, obviously :P
(or mine for that matter :oops:)
:smt017
No big secret! It seems so far away I feel foolish telling ..... but that's where everything starts I guess. Just a bit of background I work at a boarding kennels, which i run for the owners when they are away etc so i play a decision making role within it, and i also clean up sh*t - literally!
Anyway i have had another stint of running it for the last 2 weeks, with ups and downs, and a few issues along the way, as you would expect, but the long and short of it is that I know I can do it and enjoy it .... even more if it were for myself.
So that is the beginning, I have a partner who is keen to be a part of it, so I need cash and a plan! The qualifications will just sell my knowledge on paper to banks and potential clients.
well done......& good luck
One thing that might we worth it's weight is taking a short course, evening classes or home learning or something, in Bookkeeping.
Even if you end up getting someone else to do your books it's really handy to know what they should look like - and therefore more easily spot mistakes.
If you can do them yourself too (though a great time swallower) it will save you money and you'll get to know the pure finacial state of your business much better too - can save you by noticing shortfalls or problems early on rather than waiting for a quarterly reprot or something.
A good bookkeeper is worth their weight in gold, but it's still a good idea to learn even just the basics.
I'm self-employed...
Life's one big lesson over the last 2 years - NEVER doubt your own ability. You will have do do the lot, turn your hand to everything, do things you ain't never done before, things you really don't want to do. You are adaptable, flexible, willing to do ANYTHING, and PASSIONATE about your business. You are better than the competition because [well why? - What competitive advantage can you bring? Not just caring about animals, that's a given, what can you do better then anyone else?] How can you convince some hard-nosed lending manager that this isn't simply self-indulgence, how are you going to service the interest and how is the bank going to get its money back? Look at pricing of similar businesses - but I don't think that this market is particularly price-sensitive. Are thet located in the right place? What staff do they have? How do they market themselves? How can you show that you have something to offer?
Don't be put off by all this. Generally there is always a market, it's just how good are you at exploiting it. For example, could you offer a pick-up and delivery service? Most people are rushed off their feet when going away, the last thing they want is a 20 mile round trip to bring the animal to the cattery/doggery, so a collection service would be terrific. 'And call me from the airport/when you get home and tell me when to deliver Fido home because I know that you've just stepped off the plane and you'll be too tired.'
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