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1 Replies Last post: Mar 17, 2009 6:42 AM by LUCKIEST

I need a business plan! Advice on how to write one

Mar 17, 2009 1:00 AM

Click to view Molokay's profile Professional Molokay 6 posts since
Mar 17, 2009
About two years ago I started my own online business after I saw the potential it has from other sites. By "other sites" I mean sites who represent my material and generates me money. So far it has been funded by my savings as well as income I generate from these other sites. Now that I truly understand what it takes, te next step is to get funding, but the only way to do so is by having a business plan.

Because the business was intended just to generate additional passive income, I never gave a serious thought to make it big. For that reason, I do not have a BP. Now I need funding to take it to the next level.

So far I have found templates on the internet, but it seems to be too simple, but those that are complex use a language that I'm not used to.

So here are my business plan questions:

1- Where can I find a template of a business plan that comes with a step by steps guide?
2- It is okay to get an already made business plan as just modify it as needed?
3- I know there are companies that can do it for you, is this acceptable? and if so, how much should I expect to pay?
4- Is there another suggestion?

Here are other business plan related questions:

1- Based on the idea I want to quit my fulltime job to dedicate myself to the company, should I include a salary for myself in the business plan?
2- What tools or standards should I use to meassure how much should my based salary be?
3- I currently manage the website from home. Is this a bad thing or raise a "red flag" when getting inverstors?

Here are other questions:

1- Assuming I get funding, how much should I expect to give in return and within what period of time?
2- What if the business does not work? What things should I consider if it fails?
3- Is there a type of investors that take the risk of loss when investing?

As you may have figure out, I'm a newbie at this business plan/getting inverstors thing.

Any advice will be much appreciated. Thank you in advanced.

All best.

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Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
1. Re: I need a business plan! Advice on how to write one Mar 17, 2009 6:42 AM
I need a business plan! Welcome

Advice on how to write one. Start with SCORE. SCORE is FREE both in person and online.
SCORE also has a FREE Virtual Learning Center and the first course is Developing a Business Plan.

Library's and book stores also info.

Good luck, LUCKIEST