If you are thinking about starting a business, the answer is YES, even if you are not going to be applying for a loan.

A business plan will make you think about every aspect of your business and will serve as your 'road map'.

Many people try to avoid the hard work of writing a business plan because it seems so time-consuming and difficult, but these people are actually missing the opportunity to anticipate and avoid potential pitfalls in their business idea.

 

The only way to start writing a business plan is to simply start; write bullet points of your ideas that can be expanded upon later. Once you start writing, you can form these "ideas" into a real plan that tells your business story. Why do you think you would be good at your business? How do you plan to sell your product or service? What does it take to get started? The answers to these questions will get you started thinking, and writing, and will lead to a business plan.

For help with your business plan, go to the template gallery at score.org to find templates, sample business plans, and worksheets. Then call SCORE to schedule an appointment to see one of our Business Counselors for one-on-one help with your business plan.

Can Friends Be Successful Business Partners? 

Jason Dornhoffer and Terry Murtaugh were long-time friends when they thought about starting a business together. It could have been a disaster ending up in loss of friendship as well as an unsuccessful start-up, but, instead, United Worldwide is a successful business venture providing clients with private car service in 195 countries. Their travel experts manage and oversee all the details of clients' itineraries whether in America, Europe or Asia.

What made this particular venture a success?  Jason and Terry had a good business plan; Terry had experience in the private car service industry and Jason in Sales; AND, together, they came to SCORE for advice in their start-up days.

After a couple of initial meetings at the Boston SCORE office, their SCORE counselor, Seymour Salett, met them at their office to continue their sessions; many SCORE counselors make an attempt to meet their current clients at their businesses site so the clients can be "at work" and get advice concurrently.

Seymour initially helped Jason and Terry determine the best way to find their initial start-up money. Seymour was also very insistent that Jason and Terry draft a strong partnership agreement to protect them so that both their nascent business and their long-time friendship could survive and continue to thrive.  Seymour continued to counsel them in the areas of accounts receivable and expenses as their business moved out of the planning stage and into the working stage.
Jason and Terry have not lost a penny of their initial investment and are now paying themselves a salary that they both can now live on, as well as employing seven full-time people. Follow this link to their website to read more about their business unitedprivatecar.com, and bring your business idea to SCORE for free business counseling.