At the last meeting, we talked about structuring it and starting the plan - by now you should have done your research or at least have a general outline.
If you guys haven't done it yet, time to get to it! For those who has an idea in hand. Bring it and Kudos for prepping it.
We're going to give tips and suggestions on how to improve each other's plan. A question was raised if we are going to show everyone a copy. My answer, NO. We'll give suggestions of formatting, what we've learn so far in our research, funding possibilities and what the banks or SBA wants to see in a business plan, but in noway are we totally revealing what our master plan is. No worries then.
#1 reason why people don't plan one: They don't know where to start. Here's a suggestion:
Structure it! The basic business plan -
Who you are: a. Company profile: (Staff - strengths) b. What you do that makes you stand out (what makes you better):
.... (the rest of the list will be talked about tomorrow))
Look - Without a proper business plan, or ANY PLAN. Your telling the world you plan to fail. I'll see you guys tomorrow. And for those whom cannot make the meet. Have a great Thanksgiving, and really be grateful that you are reading this on a computer, in your home/work, and you have something to look forward to. There are many out there who are struggling in life and are just praying for their next meal, or where they plan to sleep. As General Patton (WW2 Hero) once said...always take the offensive, never dig in.
Starting your business plan is taking the offensive - you don't dig in, living pay-check-by-pay check is like sitting in front of the casino dealer for long durations...odds are...you'll lose eventually in the end.
Got a great product/idea is like getting 2 aces in a hand on a 21 table - DOUBLE DOWN! Funny how I mention Black Jack since our meeting is on the 21st. See you guys tomorrow then.