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.

Originally Posted by Tomcat

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?

Originally Posted by hovi5

what bussiness?

non of yours, obviously :P

(or mine for that matter )

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

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

Originally Posted by Baph

non of yours, obviously :P

(or mine for that matter )

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]

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.

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.

Originally Posted by Baph

non of yours, obviously :P

(or mine for that matter )

Originally Posted by Tomcat

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