# Business Plan ?? - write your own or hire someone to do it?



## Sugard1 (Apr 1, 2007)

Hi Guys! Did most of you write your own business plans or did you pay someone elso to do it. I would like to do it myself but I don't have the time...not that I have the cash either but i think its worth it to pay someone who is an expert> what do you think? ...did you use any of the online companies to do it? were they expensive?


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## brent (Nov 3, 2006)

*Re: Business Plan ??*

I spent a weekend writing my own. It came out to be about 11 pages. I did it to get my thoughts and ideas together. You should do it yourself as you know where you want your business to go and you will be the one striving to get it there.


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## Sugard1 (Apr 1, 2007)

*Re: Business Plan ??*

were you a business major? That's pretty impresive - you knocked it out in one weekend! WOW. I even bought this software called The Business Plan Writer and I still can't seem to get it done. My intent is to get funding from it so it needs to be really good and my background/career is in the arts/entertainment. thank you for the inspiration>
Erin


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## brent (Nov 3, 2006)

*Re: Business Plan ??*

I was technically a business major for a couple of terms, but never took business classes other than business law. I did take a technical writing class that helped. My father kept bugging me to write a business plan, so he could see how I planned to run my operation. He gave me points to discuss, and I put off writing it until I gained the knowledge to cover all the necessary areas. He is my investor and supported me as I started out, not making enough money to cover all my living expenses. Today I spent a couple of hours writing an expansion plan for him, as I need to get out of my basement and into a real shop with a real press as soon as possible and he will be helping me obtain both. 
You can certainly do it yourself. Just figure out what all you need to cover, do any needed research, and start writing. It will be worth it. Hiring someone to write it that doesn't know you, the industry, or what you can do with your business makes no sense to me. DIY!


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## Tenacious (Apr 11, 2007)

*Re: Business Plan ??*

I would say if you're just getting started. Get a business license first then visit every printer in your area and get to know people first off. Make a few friends and go from there. Ask questions and learn from them. Thats your first step! Don't plan your whole career off a plan. All that does is confuse you. It's all about who you know first! Having friends is always good.
I used to be a furniture salesman and just started researching, and talking to people. No high school diploma, no college, and no business plan. Not the way to go for everyone. 
People will talk to you when you show tax ID's and are legit. Do that first and go from there. 
What does your dad know about t-shirts? Is he in the industry? You don't just get on a motorcycle and know how to ride it.....cuz someone told you how it's done! Even if they have rode one before. You have to learn yourself! You might wreck it........once or twice, but you'll eventually learn to ride. You might even learn some cool new tricks from the old dogs!


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## Sugard1 (Apr 1, 2007)

*Re: Business Plan ??*

thanks! I really appreciate your honesty! I needed a swift kick in the butt and someone to confirm what i already thought. Noone knows how I want to run my biz except me! I guess I was intimidated by the research part of it> I'm going to get my liscences next month and contact my local SBA office and JUST DO IT! Hey I see you're in Philly! ME TOO>>


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## moxiesparadox (Apr 4, 2007)

I used to write business plans for a living and I would recommend that you write your own. 

Unless you are seeking millions of dollars in venture capital it's better for your plan to reflect you, your company and your passion than for it to be perfectly crafted and packaged. 

If you get a software package to write it, use it as a guide. It's easy to get too caught up in the structure. As a tool, business plans serve as a way of attracting capital, but more importantly as a planning tool to revisit against your progress, so make it say what you want from your business and how you plan to get there.


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## Tenacious (Apr 11, 2007)

From my experience a business plan wouldn't have worked. Mine went A.W.O.L. Things change all the time. You can write one if you want, but I'd make it more of a web first, or maybe a short term goal, and expect to branch where the money takes you. In my opinion if you limit your business, and only do it a certain way you'll end up losing out on potential opportunities. 

I was in sales for years (not business planning) and I was always told 1% of something is better than 0% of a million. Keep your mind open to every aspect of the business. (I guess you could make that part of your plan) *Just be prepared to modify your plan*............ Thats all I'm saying

5 years ago did you think you would be doing what you are now? I don't think so, you evolved and changed! So will your business.


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## Tenacious (Apr 11, 2007)

Sugard1 said:


> Hi Guys! Did most of you write your own business plans or did you pay someone elso to do it. I would like to do it myself but I don't have the time...not that I have the cash either but i think its worth it to pay someone who is an expert> what do you think? ...did you use any of the online companies to do it? were they expensive?


Sorry, I got off the subject. It's your company not someone else's. Make your model and go from there. I got on a rant b/c I started out one way and things went way different from when I started out 2yrs ago. Good!!! Just totally different from the initial plan. All I'm saying is don't plan too far ahead because things can go all directions if you do it full time. There's a whole world of money to be made for everyone in the t-shirt biz. Just don't limit yourself.........


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## Sugard1 (Apr 1, 2007)

Thanks Tenacious! I can go off into rants too but I was following you and I do understand. I will do as much of it as I can and remain open. I'm pretty optimistic so I think once I make the time to do it - I will just DO IT>>>
Thanks

Erin


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## moxiesparadox (Apr 4, 2007)

There are a few important reasons to write business plans: To raise captial (loan, grant, venture capital, etc) and so your business has a plan.

Not every business needs a written plan, but not all plans have to be as formal as a business plan. 

The process of writing a business plan forces you to evaluate your industry, your competition and your own strategies, which is something all businesses should do every few years at least. Plans are living documents. 

Writing a business plan does not necessarily mean you are defining yourself too narrowly, some business plans are so vague that the business has no definition. With or without a plan it's easy to get distracted and chase opportunities that take you far from your core business. Knowing your business helps you not waste time on "opportunities" that do not play to your strengths and focus on those that do.

"if you don't stand for something, you'll fall for anything"


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## moxiesparadox (Apr 4, 2007)

Sorry. That was my rant. I'm not usually so dogmatic, but I believe in the 'power of the plan'. 

I used to work with a woman who was always running around like a headless chicken. Her excuse for being so disorganized? She'd say, 'one day if I wasn't so busy I'd do some planning'. If she had stopped and planned, she'd have had more time.

My business has turned out quite different than I thought too (for the better), but the essence of my business is the same as where I thought I was going. And I hope I don't know exactly where it's going, that would take away all the fun.

Planning or not, I hope you are all successful!


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## Tenacious (Apr 11, 2007)

Sugard1 said:


> Thanks Tenacious! I can go off into rants too but I was following you and I do understand. I will do as much of it as I can and remain open. I'm pretty optimistic so I think once I make the time to do it - I will just DO IT>>>
> Thanks
> 
> Erin


A few years ago I was a top salesman for "THE" most profitable furniture company in the US. I made a ton of cash, but hated working for someone else following their rules. I wanted something to add to my income so I wrote up a plan...... I went on for a year and got nowhere with it. I still worked for someone, and followed my plan until I got fed up and almost quit working towards my goal. 

I realized I was following my plan instead of following money. Like I said before, ........what my boss told me when I was in sales that made sense "1% of something is better than 1% of nothing". So I let my company evolve, and branch. It helped me get into the business quicker and got me towards my original goal, it jumped track many times and still isn't on, but it's closer. *Definitely* not the way I planned it. 

Just keep digging and getting contacts for every aspect of the business so you can offer any service to any customer that approaches you. Even if you find yourself selling blanks to newbies. That would be the first part of my business plan if I had to start over, and then go from there. 

Maybe not the way for everyone to go. I'm not encouraging it, but that was my experience. So thats my opinion. 

You can be optimistic, but you have to be realistic at the same time.


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## TripleT (Apr 29, 2007)

> I still worked for someone, and followed my plan until I got fed up and almost quit working towards my goal.


Your plan should lead to your goal, not keep you away from it. What's the old saying? - Fail to Plan and you Plan to Fail. Build flexibility into your business plan.

And definitely write it yourself, Unless you're going after funding, you might be the only person who ever sees it. It does not have to be long and fancy. Google "Business Plans." You will find everything you need to know. Good Luck!


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## monkeylantern (Oct 16, 2005)

Sugard1 said:


> I would like to do it myself but I don't have the time...


 
Then how could you possibly have the time to set up a business?


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## dmgabin (Oct 17, 2007)

Hi - New here but thought I'd offer my 2 cents...Entrepreneur.com has free detailed information on How to Create a Business Plan. I found it very helpful. Here's the link: Business Plan Samples, Writing a Business Plan - Entrepreneur.com

Good luck!


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## T-BOT (Jul 24, 2006)

we are talking money here right? like a line of credit, projections, cashflow etc.

it's not a great feeling getting rejected at the end of it all...sometimes its a good thing since it may save you everything you own. 

always good to have a fresh set of eyes in the field look at it. From outside the box.

good luck.


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## karlking85 (Sep 26, 2007)

I think it's a good idea to write your own business plan whenever possible, because no one knows better than you do, what is and is not right for your company's future. Besides, one of the greatest advantages of writing a bus. plan is that you get up close and personal with every aspect of your business' goals and operations, and sometimes you will spark certain ideas that you may not have realized otherwise.


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## KLTee (Nov 28, 2007)

I agree with karlking85. A business plan is good as it gives you insight, the know-how and projections of what to expect from the business (should you follow the basic outline in producing a business plan). I have an e-book of Havard Business Review on How to Write A Great Business Plan. A good read. PM me and I'll mail you guys a copy.


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## peteVA (Nov 11, 2007)

I heard a seminar with some bankers and venture capital guys. Without exception the feeling was "give us a plan you wrote yourself on the back of an envelope, rather than pay someone for a formal plan."

Now that's talking about raising money. Their attitude was "Show us where you have mortgaged what you own, including your ifrst born and demonstrate your commitment bu putting yourself and your family at risk and we'll go with you. Shelter your assets and use ours, and forget it."

But that's for big money. Just for yourself, the first year, 3 years, 5 years out, you need a roadmap of your own. It has nothing to do with a loan and it doesn't need to be formal. But you do need some benchmarks and goals. And they should be in writing.
.


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## SunEmbroidery (Oct 18, 2007)

I would write a business plan. It doesn't need to be fancy but you should put a lot of thought into it. I did the SBA route & they asked me to write a business plan. I think I was given a format to follow. Writing my own business plan forced me to think specifically about what niches I wanted to market to and how I was going to do that. It also made me more aware of my strengths and weaknesses. The SBA person did read my plan and asked me questions about how I planned to implement my ideas and gave me suggestions based on my ideas.


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## Unik Ink (Nov 21, 2006)

Yeah, I would go to the SBA for guidance but definately do the plan yourself. I went to them after I finished school and decided to start my own business, and they helped me tremendously. I also bought business planner software, and between that, the SBA, and knowing what I wanted to accomplish, I made a pretty good plan. I did probably 6 months of research finding equipment prices and setup costs, competition in my area, and learning everything I could to set up myself for success. After I finished my plan, I opted to not go all out and get a huge loan, but rather to start off small and build slowly. There is tons of competition in my area, so it is going to take longer to get my name and art skills out there. Listening to Dave Ramsey also had something to do with that.


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## Teeart (Nov 25, 2007)

hey who made your website for you?


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## Unik Ink (Nov 21, 2006)

I made it myself. I used Adobe Illustrator to come up with a layout, photoshop to prep all of the pictures and cut the layout into pieces, and dreamweaver to put it all together, and make the website functional.


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## BoelenPython (Nov 22, 2007)

Hi guys.. A business plan is good, it forces you to research the industry and think about how you will actually run the business, the cost and profit involved etc.

If you are trying to get investors you will probably need one. 

But if you need funding and have good credit, its actually not hard to get a business line of credit, its also possible to build business credit and get net payment terms with the tshirt manufacturers. 

Remember, if you cant get investors, its still possible to get money to build or grow your business. This is what I do for a living, I help people build business credit, start and grow their business. I can offer advice if anyone needs it.

good luck
Beau


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## n.signia (Nov 21, 2007)

I'll throw my 2 cents in the bucket as well. 

I definately belive you need to write a business plan, and you need to write it yourself, for a couple reasons, first as mentioned earlier, it really makes you think about the business from a different angle, and forces you to really examine the industry. 

My suggestion is that you download a template, you can get one for free right on microsoft.com and just follow it through the motions, it will ask you for information, and then you research, it really helps broaden your perspective. 

Then when you are finished if you need it cleaned up for possible investors and dont feel you can do it yourself, take it to a pro and have them re-write it in bank talk.


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## EJR (Feb 15, 2009)

Very good post. where can I find a sample template for a clothing line?


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## HA (Jan 9, 2010)

I think it would be good to plan and reflect and really see where your trying to go with this. I do not mind taking the time to write one, But where do you get the info and where do you research to get the appropriate info your looking for. I totally understand where Erin's coming from. Do you hire someone for the research part. Are there students out there that will do it for a grade. I'm all for that. That's what stops me.-Jeff


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## Blazed T (Nov 12, 2006)

Hey Jeff. I agree that there is sooo much to research, that I find it hard to believe someone could do a THOROUGH job in a weekend. We have an adviser helping us create our BP, and she suggested finding students willing or stay at home moms looking for some xtra cash on the side. My wife took an online business managment course, basically writing a business plan, and it nearly crippled her mentally.

We have 7 years experience with our industry now and though we have REAL numbers to work with, we may be too late to capitalize on our original idea. Should have had the plan years ago! Anyway, hopefully we can expand into new areas we've discovered along the way!


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## HA (Jan 9, 2010)

Thanks, I think students that will do it for a grade as well as cash. Stay @ homes moms would be cool but their motives may not be as strong as a students as well as current info and resources. Do you just start calling and e-mailing colleges?-Jeff


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## Blazed T (Nov 12, 2006)

There are actually stay at home moms with really good backgrounds in these areas. Yes, it's a matter of finding them. She had offered up a couple sources weeks ago, and we haven't had the time to follow through and therefore can't remember the leads right off hand. I WILL find out and post soon!


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## curiousity (Feb 15, 2009)

I wrote my own business plan. Honestly, it took me several months to do it. But it was a great experience in fleshing out the business plan and brought up issues that I hadn't thought of. I sincerely think that my chances of succeeding are much higher because of it.

Here are two resources I used:
Small Business Administration - Write a Business Plan

????????????????? (SCORE business plan)


One part I was unable to put anything solid down was market research. I found several government studies, etc, but they weren't of much use. The rest of the business plan helped me immensely.


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## HA (Jan 9, 2010)

yeah the market research is what I'm concerned about. The time and energy I do not care too much about. It's the frustration of not getting the info I need or knowing where to find it.-Jeff


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## HippieGuy (Sep 27, 2009)

Some good advice given, so probably don't need mine..but.. a biz plan is a roadmap of where you want to go with your business. As mentioned above, it could be used for many reasons. If you are hoping to attract a loan officer/investor, a formal professional plan is more attractive and sometimes professional help/guidance is needed. Not to write it, but to make it more attractive and convincing. Any plan should be your thoughts and input. Afterall, it is YOUR biz.

You do not have to pay for any help. if you are near a major college/university, most likely there is a SBDC office (Small business Development Center), or a SCORE office. Both are gov't funded and free to anyone seeking business advice and guidance. Both are a wealth of info. They also offer seminars/classes some free, some with a small fee...any advice is free. Look them up on line for an office near you.


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