Business Plan: Two Plans in One
#1. The basic BP lays out the factual, nuts and bolts foundation of your business. From that full blue print of your business, you may confidently:
• Build your business
• Implement on-going strategies
#2. Whenever funding is needed, you are able create the needed documentation ……
A written plan is your Road Map to Success. It doesn’t matter how simple the plan is as long as it realistically reflects the components of your business.
First off, don’t write off the smaller banks too quickly. A number of small banks have funds available and are often more willing to loan them, but you need to have been in business for over two to four years, depending upon the lending institution, and show proven profitability. It isn’t easy, but if you have a sound company with a good plan you may be able to secure those needed funds.
Third Party Lenders are often a good source when banks decline your loan request. When you can show you have a healthy company they are usually able to be more creative than a bank. The criteria ………………
ONE PAGE Business Plan Guide
If you need a business plan, or to update the one you have, but also wondering what it will take to do it, then here is a quick summary of the steps to take.
Everyone should have a Dream or Life Goal. And with every Dream there needs to be a plan to make it happen. Those without a plan to achieve their Dream might as well sit back and relax. It is more than likely they are exactly where they are always going to be.
There is an old proverb that states: If you don’t know where you are going, you are probably already there.
Think of it as if you have an overwhelming desire to go to __________________. (Your Dream)
Your Plan is how you make that Dream a reality, i.e. how do you get there.
Develop that Plan as you would for any trip.
A good plan is really this simple.
Under normal conditions there is a good chance you would qualify, but in Colorado under current conditions – maybe not.
In the August 1, 2009 Denver Post, an article by Miles Moffeit makes the possibility of acquiring Stimulus Money appear close to the same odds as having the winning Lottery ticket. Currently loans are limited to $35,000, but the SBA is guaranteeing them 100%. Unfortunately few Colorado Banks are getting on board with the program.
