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Subject:RE: Starting a business From:"John Fleming" <johnf -at- ecn -dot- ab -dot- ca> To:"TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com> Date:Thu, 28 Jun 2001 00:14:16 -0600
> Subject: RE: Starting a business
> From: "Gordon Graham" <gordon -at- gordonandgordon -dot- com>
> Date: Tue, 26 Jun 2001 17:25:52 -0400
> X-Message-Number: 52
> > I agree, a business plan is a *must* if you're looking to strike
out
> > on your own. Not only will it keep you focused during all your
> > marketing, promotional and sales activities now, but is a great
> > reference document for whenever you decide to re-evaluate your
> > strategies... you'll need a
> > professional business plan if you intend to get any sort of bank
loan...
> >
> > *Tanja
> I don't agree with the "first of all, write a plan" advice.
> When I quit my full-time job in 1987, the advice in STC circles was
"make
> sure you have 12 months salary in the bank." I don't know WHEN I've
had 12
> months salary in the bank. Do you?? If I'd followed that advice, I
would
> never have become self-employed. And it was the best thing I ever
did.
> Over the years, I've realized the only real trick to starting a
business is
> to GET A CLIENT. Do a fabulous job for them, charge them a fair
price,
> collect your money, use them for a reference, and then GET ANOTHER
CLIENT.
Everything you wrote, Graham, is at the core of business planning.
As I've said here, the primary benefit of writing a business plan, is
that it gets you thinking about all the things you've pointed out.
Now, I've never seen the 12 months salary in the bank figure before,
but having that early war chest is nice. My first year on my own as a
technical communication contractor, I made under $6,000. If I didn't
have some means of surviving for that first year other than what I
could scrape together in that first year, I wouldn't be enjoying this
nice contract I have now.
Nobody said that first business plan had to be elaborate with fancy
projections and extensive market research (though your bank would be
happier if it were). What it does have to do is outline, in some form
or another, is how you are going to find those clients and how you are
going to survive while you find those clients.
If it also lets you take advantage of some tax breaks, all the better.
(BTW, the first time I was out on my own, as a self employed
sub-contractor in the real estate business, my earnings averaged -$33
per month--yes, minus thirty three dollars a month. And I didn't have
anything even remotely resembling a business plan scribbled on the
back of a napkin.)
--
John Fleming
Technical Writer
Edmonton, Alberta
email: johnf -at- ecn -dot- ab -dot- ca
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