Business Planning and Support

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HI there to all:

There have been many of us who have inquired with how to start up a business; for most, I suggest writing a Business Plan. This post will hopefully organize some of that questioning and answering.

Why organize your business?

Starting and managing a business takes motivation and talent. It also takes research and planning. Although initial mistakes are not always fatal, it takes extra skill, discipline, and hard work to regain the advantage. Take time beforehand to explore and evaluate your business and personal goals, then use this information to build a comprehensive and thoughtful business plan that will help you reach these goals.

Developing a business plan will force you to think through some important issues that you may not otherwise consider. Your plan will become a valuable tool as you set out to raise money for your business, and it will provide milestones to gauge your success.

--- The above was copied from this link:

http://www.sba.gov/starting_business/startup/basics.html

What is a Business Plan?

A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions.

------ I took part of the quote from this Internet page:

http://www.sba.gov/starting_business/planning/basic.html

Gaining support for your business is as easy as contacting your local Chamber or Commerce or Small Business Association. We are truly supported and in all aspects of the government.

Here is a quote by President Bush:

Wealth is created by Americans - by creativity and enterprise and risk-taking. But government can create an environment where businesses and entrepreneurs and families can dream and flourish.

---------Our government not only encourages us in these endeavors but supports us greatly with free and minimal fee resources.

------I took the NxLevel course offered in my community. The type of offering may vary in your community but the support is similar. As you can see from the above links, the Small Business Association is supported by the US Government and has invaluable links on the Internet. Here is their Home Page:

http://www.sba.gov/index.html

----- My particular NxLevel course, a 12-week curriculum, was an important way to begin my pursuit of Independence in Nursing. At the time, the NXLevel Entrepreneurship Class was offered. To be honest, I do not remember the fee, but it was below $ 100.00. I could not be doing what I am doing today, without their support. I took the course through The Local Chamber of Commerce and the Small Business Association. Here is a link of the course work description:

http://www.nxlevel.org/Pages/main.html

The Internet group SCORE has been mentioned on this BB by several posters. Here is a link to their website:

http://www.score.org/

I am hoping others who have used their services will comment further. I know they offer many free services in counseling small business by their varied expert volunteers via the Internet and local area (where available). Additionally, I have seen services, such as setting up a Corporation, offered via the Internet at a competitive fee. Any comments here from those who have used SCORE?

------ Well now, that's a decent start up for discussion or comments. Any positive comments, regarding starting up a business or pursuits in mainitaining a business, are greatly appreciated. ;)

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nightngale - you are one classy moderator.

You seem obsessed with making this section of the forum a mine of information. I appreciate your input here.

Nice job.

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Thanks Indie! ;)

Curious, have you gone the route of writing a Business Plan? What would you recommend in getting started with a new venture? ;)

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Lesson #1 I must say that research is the ultimate weapon...Research the viability of your project.....Research why you think you can do a "better" job.

Lesson #2 Nothing is for free.....How are you going to create your opportunity and still survive financially?

Lesson #3 The IRS can be your friend....Ask questions about tax filing BEFORE registering your business.

Lesson #4 You need an accountant and an attorney....You CAN NOT go without the two....If you cannot afford them, then save up and start a business when you can. They have been a savior to my business endeavors!

Lesson #5 The department of the State is a wealth of information!!!!

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Specializes in psych, medical, drug rehab.

Thank you! Thank you! Thank you!

See thats what I love about this forum... people willing to reach out and help others.

Thank you again!

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This is all good information. The main focus of a business plan is financial planning. I have had many great business ideas, but when I sat down and looked at the numbers, I realized that they were not financially feasible. You MUST underestimate your income and overestimate your expenses. By doing that, you may be close to target.

Also, you should plan on reworking your plan on a regular basis.

I started ownership of a surgery center in July. Yesterday, I analyzed the numbers and found it necessary to make some changes. For example, I was ordering way too much inventory. After discussion with my major vendors, they will provide 2 day service, so I don't need to order supplies until I need them. On the income side, I realized that we were giving large discounts to employees and their families for the facility fees on cosmetic surgery cases. That will stop immediatly, because it is not sufficient to cover my fixed expenses.

Nurses tend to be too nice and this may be a problem when running a business. Learn how to negotiate, how to analyze facts and figures and stay on top of both income and expenses on a daily basis.

One final word, I learned the hard way--don't talk about your finances in public. There are no positive benefits to doing this. No one will be happy with your sucess or cares about your problems. I only talk to my accountant and a trusted business advisor. Everyone else justs gets a smile.

Yoga

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Great advice yoga!

Thanks for your input. :;

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While this post is over a year old, it is still essential and timely for many. I hope it continues to grow and develop.

nightngale1998

Moderator Staff Member

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I think this is great section. I hope people use it more. There is a lot of good advice and it is so true.

Yves

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Specializes in Stroke Seizure/LTC/SNF/LTAC.
While this post is over a year old, it is still essential and timely for many. I hope it continues to grow and develop.

nightngale1998

Moderator Staff Member

I just wanted to say "Thanks" for putting the nurse-entrepreneur info here. I am new to registered nursing, but not new to the dream of owning a successful health-oriented buisness. You (and other posters) have listed some extremely helpful resources.

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I just wanted to say "Thanks" for putting the nurse-entrepreneur info here. I am new to registered nursing, but not new to the dream of owning a successful health-oriented buisness. You (and other posters) have listed some extremely helpful resources.

Thanks. and I do hope the info continues to be shared and developed amongst our members on this board. What we share here is free; there are so many "out there" wanting to make money off of Nurses when we can make more of the profit by being our own business manager etc... Knowledge is power.

"Heres to the conversations staying alive"!

nightngale1998 ;)

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Nightingale/Bonnie-thanks for putting this up. What kind of business do you have?

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