ALL IN YOUR BUSINESS
more effective ways of doing things and these will be the things you include in your business
plan. “Work smarter, not harder”.
4. You might get sponsors or partners along the way. You never want to exclude these people
because “backing” means something to investors. Sometimes it’s not what you know, it’s who
you know.
5. Your financial situation WILL change. Rather
you’re funding the business yourself or you need
investors, you’re unlikely to stay in the same position
and have the same outlook on how you will finance
your business. Your financial need will also change
because you’ll constantly be crossing things off your
to-do-list.
You should save your edits as an entirely new
document because you’ll want to keep a record of
your progress. Besides, you’re writing your own
history! Be sure to back your business plan (as well as your other business documents) up on a flash
drive or two. The most horrific thing that can happen to an entrepreneur is the loss of documents. This
can happen due to a flood, a fire, a computer malfunction or loss etc. Protect yourself and your
documents.
Malayzia Mag, August 2013, 4th Issue
Photos compliments of smallbiztrends.com
Another thing you should do is join your local SBA. The Small Business Administration offers so many
tools to the business owner (and aspiring entrepreneur)
free of charge. The advice is useful and priceless as
indicated on their website www.sba.gov. These folks
will help tweak your business plan, mentor you and
even suggest funding ideas to you. They offer grants
and loans internally but they have several lists that
include firms that fund small businesses externally. Even if you never set foot in one of their offices,
(which you should) it would be in your best interest to dedicate at least an hour to accessing the many
resources on their website.
The next order of business (in my book) would be to take a couple classes. There are a few skills and
concepts you will need to learn in order to run a business. I’m
not saying you need a Bachelors Degree but I would at least
invest in the classes that teach you the skills that will save you
money in the long haul. For instance, if you learn small
business accounting, it will be unlikely that you’ll need an
accountant. If you take a couple business law classes, you
won’t have to dish out thousands of dollars each time you
Photos compliments of saptac.com
need contracts and proposals drawn. Most community