Aug 19, 2008
Business Plan data that will help you sleep like a baby
by Zack
If you've been wanting to buy a business, but are holding back because you're freaked out about the idea of drafting a business plan, then this article should help put your mind at ease.
Years ago, I used effectively to meet with people who want to buy a company before drawing up a business plan. And I discovered after a couple of years that people are afraid of three things - death, taxes and business plans.
This is no joke. It is very similar to public speaking - most people prefer to die or pay their taxes to develop a business plan. Back to that used to teach about buying companies at seminars, a lot of people came to me wanting to buy a company with no business plan. And it's no great mystery that not one of them never received their funding - and now they are telling their grandchildren how successful it would have been if they had obtained financing.
Listen: Do not let the idea of a business plan that frighten or stop you from going after a good business to buy. A business plan is nothing but a detailed description of what you're doing. And that's all. Not much. There is nothing to fear. If something makes sense and everything is in place, get their funding. If you're looking for funding and investors have a good business plan, you'll have no problem at all getting all the money you need.
The main thing is to keep it simple. Do not let the idea of making a business plan you freak. It is not rocket science and if he can not hire someone to do it for you, simply go to the library and read a few books on how to do it, and he was fine.
by Zack
If you've been wanting to buy a business, but are holding back because you're freaked out about the idea of drafting a business plan, then this article should help put your mind at ease.
Years ago, I used effectively to meet with people who want to buy a company before drawing up a business plan. And I discovered after a couple of years that people are afraid of three things - death, taxes and business plans.
This is no joke. It is very similar to public speaking - most people prefer to die or pay their taxes to develop a business plan. Back to that used to teach about buying companies at seminars, a lot of people came to me wanting to buy a company with no business plan. And it's no great mystery that not one of them never received their funding - and now they are telling their grandchildren how successful it would have been if they had obtained financing.
Listen: Do not let the idea of a business plan that frighten or stop you from going after a good business to buy. A business plan is nothing but a detailed description of what you're doing. And that's all. Not much. There is nothing to fear. If something makes sense and everything is in place, get their funding. If you're looking for funding and investors have a good business plan, you'll have no problem at all getting all the money you need.
The main thing is to keep it simple. Do not let the idea of making a business plan you freak. It is not rocket science and if he can not hire someone to do it for you, simply go to the library and read a few books on how to do it, and he was fine.
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