# What is a business plan?



## Joeyt (Jan 10, 2011)

I've seen many of the fellow members here talking about writing and drafting out a business plan. I'm confused, and I would like to ask what actually is a business plan?

A long essay? 

One with point forms which marks deadline?

Or??


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## Flagrant-T (Nov 11, 2009)

A formal business plan is usually required to get funding. If you aren't looking for that, I'd HIGHLY suggest reading "The Toilet Paper Entrepreneur". Its an awesome book that re-thinks business plans into more of a living document that changes as you grow and evolve. Its a really fast read too, and it really gets you pumped up. 

Good luck!
Nick


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## idonaldson (Sep 29, 2008)

A business plan is your vision for your business. It lays out what you are going to do and how you are going to do it. It says how you plan on getting started, what you are going to do once you get started, and where you plan on going now that you have started. Looking for financial support, then it is a requirement for loans or to get support from investors other than your family.


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## EnMartian (Feb 14, 2008)

A business plan also generally includes a market analysis and gives the reasons why you think your business has a chance of succeeding. It's basically a blueprint for why you are starting your business, why you think the business will succeed, and how you mean to ensure that success.


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## kirbymurphy (Aug 25, 2009)

A component of many business plans is a set of figures that project your gross sales, revenue, income, expenses, net, and profit.

Everyone derives these numbers from a spreadsheet. They can be your best friend and worst enemy.

When forecasting the above figures, make sure to use HONEST numbers. It is so easy to manipulate a spreadsheet that shows you can make $20,000 per week selling 1000 garments at at $20 each. Be real. Can you really sell 1000 per week? Can you really charge $20 each? Will your rent really be $500 per month, or did you leave out the Triple Net factor, and did you include $200 for utilities like heat, AC, gas, $40 for phone, $60 for DSL, $40 for alarm, $100 for insurance, $100 for signage?

Can you sustain waiting 1 to 6 months for payments from credit customers? SWBell, Budweiser, and other major clients thought I should be happy getting paid in 3 to 6 months. My employees thought they should be paid every week.

A biz plan is essential, but honesty with yourself is also essential.


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## Pwear (Mar 7, 2008)

Developing a Business Plan | SCORE


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## JohnBee (Nov 28, 2010)

it's your "game plan".

pretty much like writing a DETAILED step by step on how you will get from point A to point B (or how to get to your desired goal).

it's a MUST (really) if you plan to develop your own business.

for instance, if you plan to enter SCREEN PRINTING business. the summary of your STRATEGY (or business plan) will include (among others)..... suppliers (where to get raw materials), pricing (how much to charge per print), what initial equipment to have, advertising strategies, etc...... and "be honest" and realistic.

.....and lastly, business plan is in constant work-in-progress even after your business had taken off. in my case, my business has been running for few years now but i still go back into my business plan to enter new revisions of my strategies once in a while.


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## charlieshirt (Jan 31, 2011)

You can get with you're local Small Business Administration or the local Chamber of Commerce and they can help you big time.

Best of luck.


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## binki (Jul 16, 2006)

your roadmap to success. doing one and revisiting it periodically helps you figure out what you are going to do and where you are going. 

when you read posts like 'what do i charge' or 'how come my shirts are not selling' or '1 year online with no sales' you can bet they didnt have a business plan. if they did they would not have needed to post the question, they would already know the answer. 

you don't have to complete your plan on day 1 or or day 1000, you just have to make the effort.


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## idonaldson (Sep 29, 2008)

Agree with Binki except for the 1000 days - if you going to do it and you need to before your business direction ends up all over the place with unneeded ventures, then just go ahead and finish it. A good month at it will suffice. With that said, it will never be written in stone. There will come time for readdressing your business focus.


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## binki (Jul 16, 2006)

We review our plan twice a year and make adjustments. Because we are on SoCal we do it around the time of the ISS and NBM shows to determine if we will add a product or process to our biz. 

One important thing to consider is making adjustments as your sales pick up. If you wrote a plan and had a projection of $10K/month at some point then when you get to $10K you better address that part of your plan. 

We also are in a retail setting and competition comes and goes every few months so we shop those guys and then write a plan to put them out of their misery


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## idonaldson (Sep 29, 2008)

great points binki


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## muneca (Sep 30, 2008)

does anyone out there have a sample template for a business plan? if so, please post it or send it to me directly. i am thinking of starting a new company.

thanks!


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## charlieshirt (Jan 31, 2011)

At one time I did have software that helped to write a business plan. Can't seem to find it though. You can pick up this software at your local office supplies company. I found it very helpful. If memory serves, it didn't cost that much.


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## jjl93 (Sep 22, 2010)

Business plan aye!? Basically its a written document of how much money you want to get invested in you. Then its split up into the amount you will spend on equipment, blank tshirts, your trademark, your website costs, and everything that goes into starting up. From there you have your predictions of when you will have your tshirts made, the cost of your labor (if your actually printing them). Then where you plan on selling and distributing them for each quarter of the year. And basically how long you plan it will take you to pay the money back. Thats the sum of it. Of course you need to go into more detail with EXACTLY what you plan on doing. I recently made my business plan and purchased my whole settup. Cost me around $16,000 and spending. Id have to say there are alota things i didnt take into consideration and now money is coming out of my own pocket. So my advice is write every single little thing you plan on doing down. If you wanna see my progress check out my site and let me know what you think! Hope this helps!


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## idonaldson (Sep 29, 2008)

interesting - love the yeagermister - some other interesting medical supplies. Is it a social site


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## charlieshirt (Jan 31, 2011)

Here is a great source for business plans.
Free Sample Business Plans and Business Plan Software


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## Joeyt (Jan 10, 2011)

Sorry, was really busy with schoolwork and didn't check in of late. Thanks guys. Will read on it once I have the time.

Thank you for all the links you have shared and all the points you have spared! Appreciate it!


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## Plus 37 Research (Jan 12, 2011)

muneca said:


> does anyone out there have a sample template for a business plan? if so, please post it or send it to me directly. i am thinking of starting a new company.
> 
> thanks!


Essential Elements of a Good Business Plan | SBA.gov

so, i found this and copy/pasted each section onto word and printed. this isnt quite a template, but its an outline. if there is a difference haha. but yeah. its 10+ pages but i found it extremely helpful and useful. good luck...


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## jjl93 (Sep 22, 2010)

Thanks a lot haha. Its very much of a social site. We like to incorporate as much cool and interesting stuff as possible along with our shirts. The shop online part has a ways to go still. But i like how everything is overall progressing


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