Business Plan

Cat_painter

What I would like to know is..If I am a painter only that is not borrowing money from a bank or anybody do I still need to write up a business plan?

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Jill of all trades...Master at MOMMY

SmithBuilt

A "good" business plan would provide a clear path to growth. From advertising to what you plan to offer that your competitors do not. A plan for you to set back and watch the company grow, a plan for you to retire at some point. A plan to turn your company into an asset that would be worth selling or passing on to your kids.

But you may not want to run a company so you may not need a plan. I will say its hard to run a business with just one person, the owner.

PS I don't have a good plan, but I'm continually working on it. I should work on it more. It is the best investment that could be made for a business.

Cat_painter

I plan on having employees later on if all goes well. Just starting up I want to start by myself. Then add hubby and others as time goes on.

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Jill of all trades...Master at MOMMY

DamionR

More than a business plan, you'll want a marketing plan and future growth plan.

The business plan is mostly for speculation... to show good potential to an investor on paper... complete BS in my opinion.

A marketing plan would help give you goals and plans fro growing the business.

A growth plan does the same. Set goals, deadlines, and hold yourself accountable.

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dirt diggler

Damion ... for one of the first times since you've come onto this forum


I have to respectfully disagree with what you just said ...

(on the BP being BS)


mostly cuz I think a lot of people here look up to your opinions and advice (i know I do)

wouldn't want to steer them in the wrong direction

ruskent

I have a written marketing plan.

I do not have a written business plan. I mean how could i? I change my mind every other day on the exact direction i want to go in.

I know where i want my business to be in 1 year, 3 years, and so on. I just never felt the need to write it all down.

dirt diggler

ya'd be freakin amazed ...

ruskent

Whats funny though, is i cut 5 different budgets made up in excel for running up to 5-6 crews. I think about the future heavily everyday.

ultimatetouch

I just brought a planner just for marketing and advertising deadlines

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois

ultimatetouch

I hope you make a milion this year dude. Good luck
This is the year I am getting more aggressive, I am a younger contractor but who cares the time is now. I used to say Im still young Ill do this later and that, but you will never get anywhere like that. Start now.

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois

PressurePros

Going back to a previous post about people sounding negative and harsh on these boards.. take this for what its worth.

A company without a written business plan is daydreaming. You will spin your wheels needlessly. "I want to do this and I want to do that" is well and good but you need a definitve plan to get you where you are going and the only way to do that is to write it down. That doesn't mean you won't change or modify your goals along the way.

Think of walking into a job without a plan of attack. As you ponder what you are going to do next and go back and forth to your truck a hundred times, you're efficiency goes out the window.

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Ken Fenner
Pressure Washing PA
Roof Cleaning Services PA

Cat_painter

enough said thanks

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Jill of all trades...Master at MOMMY

SmithBuilt

Pressure Pros posted this link in another thread. It looks like a great place to start.

http://www.sba.gov/smallbusinessplanner/index.html

realpurty2

The true value of a business plan when your not thinking of financing is not in having a written plan, it's all the exploration. It requires you to focus on your company and where you want to be, how to get there, and what to do when your there.

I've got an excellent sample plans for both new business and established businesses that ask you questions as you go along to help get the info you need.

Here is the example.. (couldn't upload via pm after all..)

Attached Files

Business Plan for an Established Business.zip (33.4 KB, 40 views)

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WaltG

Here's my two cents... hope it helps the debate...

Just like understanding the difference between sales and marketing, there's a difference between a business plan and a working marketing plan.

Put together a formal detailed business plan if you're trying to raise money.

Use a marketing plan to grow your business.

Here's a simple marketing plan to operate your marketing with a
Unlike a formal business plan, your Marketing Plan, your blueprint for business success, is a simple three step formula-not page-after-page of useless, boring crap that bankers love:

1. Define Your Target Market -dig in and truly understand their problems and desires... and benefits your service or product offer.
2. Identify 5-10 ways to get visibility with Target Market prospects and generate new leads.
3. List all the ACTION Steps you must take Daily, Weekly, and Monthly. Assign Specific Deadlines and Outcomes for each step.

Your Marketing Plan boils down to a single page... one clear, concise, tightly-focused page... that serves as a constant reminder of...

What's Important Now--- WIN!
(from Lou Holtz Autobio)

DamionR

wow - lot's of opinions here

I guess I should clarify. IMO, most business plans are designed for funding purposes. Their mostly hypothetical and "fluffy", without a lot of substance.

Certain parts are defintly important - such as projecting revenues, but many forget the important parts - how to get to those goals.

I like a concise marketing plan - like Walt mentioned - one page that explains what you need, ways to get it, and what you're going to do about it.

One thing I am a HUGE fan of is a SWOT analysis. This is simple to do, and very good at getting focused on results.


SWOT - strengths, weakness's, oppurtunities, threats.


First you write out all of the strengths that your business has currently.

Next, all of your weakness's.

Third, the oppurtunities for growth in your business (sweet spots)

Finally, threats against your business.

After doing this - rank each list in value - by most important. Take your top 3 most important values for each list and proceed to the next phase.


The next phase is 4 steps.

First, a strength-oppurtunity brainstorm. How can you use your strengths to take advantages of your top three oppurtunities ?

next - a weakness's-oppurtunities brainstorm. How can you overcome your weakness's by taking advantage of your top three oppurtunities?

Third... strengths-threats brainstorm. How can you use your strengths to avoid the top three threats to your business?

Finally - (and this is the one that most have trouble swallowing) - how to minimize your weakness's and avoid your top three threats.


This is a REAL eye opening excercise.

I've attached an example from one of my clients. The data shows their results and answers. Since they had a large group of people - we determined their top 3 by voting (votes shown).

I would recommend this to anyone, at anytime, for their business - successful, growing, failing, regardless.

Attached Files

swot analysis.doc (98.5 KB, 51 views)

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Danahy

I must be lazy cause my plan is all in my head. However clear things are to me, I do agree that I/we should all have something written down. What's that saying? Those who don't learn from history are desitined to repeat it?...

DamionR

Nope, those who don't learn end up working for the guy that did

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Danahy

that's what I said.