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So you want to go pro #2: Business Plan or not to Business Plan

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Blog entry by odie posted 01-06-2008 02:07 AM 1146 reads 0 times favorited 3 comments Add to Favorites Watch
« Part 1: For now I'm gathering my thoughts Part 2 of So you want to go pro series Part 3: Business Person vs Manufacturer »

Shame on us, we don’t have a business plan. Never did and never will have one. We knew what we wanted to accomplish. Banks and loan institutions insist on you having a business plan. All professional people (lawyers, accountants, and the like) will advise you to have one. I didn’t need a loan to get started, but if you are one that does need a loan, start writing. A bank will want to know that you have all of your ducks in a row. This business plan will be put in front of loan and management people without you being present to explain unclear details. So, be very concise in your writings. Get some help with this if you need to. I know I would have to sweet talk the little woman. Maybe promise to do the laundry or something. I don’t understand her demands, I got her a new mop for Christmas.

Here is a little common sense sermon to chew on. Think failure … you will fail. Think success … you will succeed. When you start thinking about this endeavor, get your information from those who have succeeded in a like business. You don’t want advice from a failure. Just ask yourself, what will they teach me? That said, I can now get off of my bully pulpit.

In the later installments I will cover such exciting topics as: wholesale vs. retail, becoming legal, sole proprietorship vs. incorporating, paying your way, pricing structure, art galleries, and many many more to keep you wide awake. These will be common sense plus my very trying experiences with, promoters, governments, retailers, customers, and fellow artists.

It’s still snowing out there. Three feet and still counting.

Shameless Promotion: http://www.dustnlint.com

-- Odie, Confucius say, "He who laughs at one's self is BUTT of joke". http://woodstermangotwood.blogspot.com/ (my funny blog)



3 comments so far

View Karson's profile

Karson

35035 posts in 3868 days


#1 posted 01-06-2008 03:03 AM

Well I’m glad it’s snowing that will keep you in the shop. Are you snowed in or snowed out. Whats the temp.

Great Start Odie.

-- I've been blessed with a father who liked to tinker in wood, and a wife who lets me tinker in wood. Southern Delaware soon moving to Virginia karsonwm@gmail.com †

View MsDebbieP's profile

MsDebbieP

18615 posts in 3628 days


#2 posted 01-06-2008 01:22 PM

sure is a lot to think about!

-- ~ Debbie, Canada (https://www.facebook.com/DebbiePribeleENJOConsultant)

View matsonian's profile

matsonian

1 post in 3259 days


#3 posted 01-08-2008 02:41 PM

Bravo! I am a huge advocate of the death of business plans for the average entrepreneur. However, that doesn’t mean you shouldn’t plan. Most entrepreneurs who don’t need to approach bankers or financiers should just develop a simple, living, strategic plan like the one created with the QuickPlanner Plus method.

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