Business Plan's

So as I’m in the last month in my masters degree we are preparing the final pieces in our business plans. Although I am already established as a business, I have really learned new things that as an entrepreneur. This last class helped me understand how to really go by speaking to investors and persuading them to fund me as a business owner. I was able to perfect my communication and persuasion skills in order to get what I am looking for.

Through different institutions like, The Small Business Association, and many others. I learned that there are different sources of funding, whether it is through government contracting, or through venture capitalism. There is many different ways and outlets to get the funding you are looking for. There are various qualifications that you need to have in order to receive these types of funding such as; licenses, and permits.

The sites also provide information on how business owners can find special grants or governmental help based on the sector that the business is in. They provide the name and contact information of the various agencies whether it is governmental or not. That way the people can contact them directly and get the needed information in order to qualify for these special grants. These grants are also based on the situations of the owners of the businesses. Whether the owners are disabled, Hispanic, single women, minorities or even African Americans, there is a program where each of these qualify for and can get the help that they need.

To conclude this post I have been able to learn about new programs in which I as a disabled Hispanic business owner might qualify for and possibly get free money for my business. This is something I will definitely continue to look into.

My view at Business Plans

This was a very interesting month for me. Since I am a semi-established entrepreneur already. I kind of was taught a new perspective this month on how to look at business plans. I studied 2 very known and very smart business plan writers. The things that I have learned in the past 4 weeks have been more than what I have learned in a very long time. I created a new perspective on how to view things in order to get what I want. This has caused me to tweak my business plan a bit, but for the better which is all that counts.

Most of the changes that I made to my business plans were with the numbers. I learned from these gentlemen that the banks really don’t care about the explanations and things like that. What really matters to them and what they mainly look at is the numbers. They want to see that you are able to show at least a break-even status or preferably a profitable status. What really matters is that they feel comfortable lending you money when they know that you are going to be able to pay it back.

As mentioned before what really matters is the numbers so, therefore I believe that is the most important part of any business plan. That is the first thing that any bank or investor is going to look at. Before wasting any time meeting with you or anything.

I really appreciate this month’s class because; it helped view the industry a bit better. I am able to understand it a bit more, and feel more efficient within it now. I am now on my way to become a better and more successful entrepreneur than what I was before. Definitely by far the best class period.