I’M FROM THE GOVERNMENT AND I’M HERE TO HELP YOU?

Most people cringe when they hear that phrase, because when the “Feds” get in involved, things often go badly wrong.

But not always.

If you read my previous post, you will recall that I closed by saying the before you went scouting around for financing, you needed to have a BUSINESS PLAN. The term Business Plan can give an entrepreneur a pain more annoying than a tooth ache. But Business Plans are a reality in the world of finance. It’s Simple, when you deal with banks and professional lenders – No Plan = No Loan.

But take heart, a Business Plan is not rocket science and it can be done without a great deal of pain. AND HERE’S THE GOOD PART: The Federal Government Really Can Help You With This!

Let me introduce you to the SBA’s “Small Business Planner.” This is a series of web sites that can take the small business owner from “Soup to Nuts” in planning and running his business.

In my last post, I think I may have gotten your attention with an article about financing your business. Now that I have gotten your attention, let me bring you back to reality. Financing will do you no good, if you do not have a sound business plan. A fool and his money are soon parted, and if you go into business without a plan, you may just be that fool.

And even before you try to write your business plan, you need to know what you are doing and why. The SBA has plenty of helpful information that can guide you along the path to establishing your small business and their Small Business Planner is a great place to start. It has everything from start to finish with a small business. And remember, at some point there will be a "finish." And whether you will be around to see it or not, you should plan for it.

Here is a list of the topics covered by the SBA Small Business Planner:

Plan Your Business
Get Ready
Write a Business Plan

Start Your Business
Find a Mentor
Finance Start-Up
Buy a Business
Buy a Franchise
Name Your Business
Choose a Structure
Protect Your Ideas
Get Licenses and Permits
Pick a Location
Lease Equipment

Manage Your Business
Lead
Make Decisions
Manage Employees
Market and Price
Market and Sell
Understand Fair Practice
Pay Taxes
Get Insurance
Handle Legal Concerns
Forecast
Advocate and Stay Informed
Use Technology
Finance Growth

Getting Out
Plan Your Exit
Sell Your Business
Transfer Ownership
Liquidate Assets
File Bankruptcy
Close Officially

As you can see, the list is quite extensive; but for now, we are only going to focus on the section titled "Plan your Business" and we will use the SBA website as a guide while looking at other helpful sites to simplify or fill in the gaps.

A COUPLE OF FINAL NOTES FOR THIS POST

Before you get too far into the Small Business Planner, you should take a moment to look at the
SBA Business Assessment Tool. Being an entrepreneur is not for everyone, and this Assessment Tool can help you to decide if being a small business person is for you. You don’t want to go through all of the trouble to start a business, and get it funded only to find out that you don’t like it. This Assessment Tool is pretty straight forward, and is well worth the effort it takes to complete it.

Finally, there is a SBA Business Plan Tutorial and a SBA Business Plan Template available for you provided by the SBA using these two sites helps you to understand what you are doing and why you are doing it (in terms of a Business Plan); and the Template helps keeping you from having to reinvent the wheel.

There is plenty to explore in the SBA’s Small Business Planner, and in future posts I will explore some the specific items.