Friday, September 11, 2015

Working out a Business Plan

God may give you a vision...

But it is up to us to work out the vision.

I went for the NEIS (New Enterprise Investment Scheme) information scheme, but it turns out that my business idea was considered not independent enough to be accepted.. So any ideas for a grant is scrapped for the time being.

Regardless, I still have to work out the plan. I spent the whole of today working out the basics of the business plan. Some of the questions did stump me, and I had to think a long time to work it out..

So this is my tentative plan... Reading the Guru Guide to Entrepreneurship (2001) did provide some guidance and case study for a workable plan.

Taria (from Lentils) was suggesting to read The Lean Startup (2011) for more ideas on entrepreneurship.

The tentative date for commencement of the business is approximate January 2016, which gives roughly about three months to prepare in terms of surveying the market, renting property in the right area, getting approval from the council, forge networks and preparing marketing and advertising material.

In the mean time, I will draw up a list of all possible inventory and equipment I will possibly need, and also work out my budget and living expenses for the next three months, which should be supplemented by part time work I intend to procure, as well as allowance from Centrelink.

I have to work the list out one at a time so as not to overwhelm my senses by how much I actually need to prepare financially.

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