ForumsStarting a Business

First, have you had anyone (a business consultant, SBDC member or SCORE counselor) look at your business plan? Having an outside set of eyes can sometimes catch deficiencies in a plan that a new business owner may simply be unaware of due to lack of experience. Since you are seeking funds from outside sources, you will want a solid plan, otherwise you run the risk of missing out on an opportunity for securing funds.

This is not a knock against you, your abilities or your intelligence - simply a fact that I have seen reviewing other people's plans. Unless you have been through the process before, it is easy to make mistakes.

If you haven't reviewed some of the key elements of a formal business plan, I do have a free page on my site that gives a breakdown along with what you need to take into consideration when writing each section. Here's the link to my page:

http://thesologuide.com/planning/

Second, I recommend that you seek out a member in this community that goes by the nickname, "phanio". The insight that he provides for finding different sources of funding and what you need in order to secure a loan always appears to be excellent advice.

Hope this helps.

Doug Dolan

The Solopreneur's Guide

http://thesologuide.com/