Your business plans

[Flanners]

I was wandering to what extent people went to when writing there business plans and what they included.

Some may have been for the bank manager and some may have just been as a guiedline for you to follow. So I appreciate they are for very different reasons.

Just interested in hearing how some of you approached this!

Thanks guys!!!!

 

[buff]

make loads of money,on a serious note i think plans are ok but on the other hand i think they are a total waste of time
i use to sit down every new year and work out how much business i needed to earn as againts expenditure and every time i cried and got depressed
so now i just go with the flow
bob

 

[PlumbBobBob]

i go with the flow also you can only do the work that is requested of you if you have quiet periods there isn't much you can do short of knocking on doors and begging

steve

 

[Flanners]

I see what you guys are ssaying but I mean more about business start ups!!

 

[buff]

THATS DIFFERENT,firstly start with outgoings,van,insurance,tools,materials,depending if your going into emergency work or planned work get an idea of outgoings,then you will need money behind you for at least three months wages,advertising,what type,how much,paper,internet
demographics/ were are your potential customers,resedential,commercial maybe a mix
how much do you need to earn a month whats your target for first year earnings blah blah blah
THATS WHY YOU GO WITH FLOW
good luck,im right behind you !

 

[dontknowitall]

I noticed with my "plumbing business" that it was the first time I'd not done any sort of business plan. With some of the other things I'd tried the business plan was so inaccurate and it was totally useless. The bank liked it though! They didn't like my "I haven't done one" response to my plumbing and yet it's easily the best thing I've done for many years.

In short, I think if you're really confident about making a business work you don't need a plan of any sort - at least not until you start employing people but that's a different scenario.

 

[john.bell55]

Flanners, if you PM me I will send you a copy of business plans I got from Business Gateway, to give you an idea.

 

[justlead1]

Hi The finances need to be planned. But it can be a chicken and egg situation. I for one wish over my lifetime as a self employed plumber i had planned the direction, rather than satisfying the ego by taking on every thing i could. Targeting an area within the trade and focusing on it, with regard to marketing / advertising. Makes life far more manageable and measurable. Many plumbers will recognise this, having done a days work, diverting on the way home to do a ten minuet job that takes three hour. Although plenty of money can be earn't. Planning ones social /family life can be very difficult. Indeed i would never have found time to write scrips on here for at least 3/4 of my working life, including weekends. Specialising in a particular field allows stock to be held, the correct tools available, planned starting and finishing times, greater knowledge of costs, quicker through experiance and the opportunity to train others in the chosen area.