Business Plan. What to look out for?

[Snoopy_inc]

I dont have a problem being an entrepreneur. The problem i face is that i never have used material or read anything serious on business. I have been around people that own businesses all my life, and have picked up on some of their knowledge as i have gone along.

Its like skipping through a book.... i know certain things but im lacking in areas. I want to work on those and get them up to speed..... hence the 101 business idea.

On the other question i would like to get your views on that...... maybe you could add to those questions and put ... What to ask your Partners and what to establish in the beginning about what roles are to be played etc.

[Snoopy_inc]

hrm... still no reply... ok i guess ill keep looking around.

[RKS Computer Solutions]

Snoopy,

sbinformation.com
entrepreneur.com
37signals.com
jdsblog.com

More here:
Google search results

Hope it helps

[Dave A]

hrm... still no reply... ok i guess ill keep looking around.

A rather disappointing comment given the 1-on-1 attention given after your previous post

[Snoopy_inc]

Dave, Wasn't meant to be harsh. But if you read my question its a 2 question question. You answered alot in the 1 on 1 which i appreciate but i am still looking for the answers with regards to the "What to ask your Partners and what to establish in the beginning about what roles are to be played etc."

Sorry if you misinterpreted my words.... but i still don't have the answers for that specific question. Hence the message to refresh the topic.

[Snoopy_inc]

Snoopy,

http://sbinformation.about.com/od/bizopportunities/a/startup101.htm

http://www.entrepreneur.com/startingabusiness/businessplans/article38290.html

http://www.37signals.com/svn/archives2/small_biz_101_how_to_get_started.php

http://www.jdsblog.com/2006/09/18/business-building-101-business-plan/

More here:

http://www.google.co.za/search?q=starting+a+business+plan+101&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Hope it helps

Thanks RKS. looks like alot of the stuff i was asking about. thanks for the links.

[RKS Computer Solutions]

Snoopy, the name is Riaan...

Here is a link to help with the partnering stuff....

http://www.google.co.za/search?q=partnering+in+business&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

[Snoopy_inc]

Hi Riaan, didn't see your name anywhere so i used your nick

Dave..... you should know me better and this is one of the mysteries of the inet for one to take something written out of context.

If i offended anyone i do apologize.

[RKS Computer Solutions]

Snoopy, it's cool... Have you come any closer to answering your unanswered questions regarding partnerships and startup businesses in general....

[Snoopy_inc]

To be honest im still tugging at the idea of partnership... i have been reading alot of things on the Net but as they say. Personal Experience beats any book written hence my questions to you guys.

Thing is i want to be Prepared and being under prepared im going to be getting the bad end of the stick.... the issues i face are a partner that knows business well vs me a new time business owner. I have to know the quirks and the shortcomings etc so i can get ready for them before i stick my neck out and get taken for a ride.

I'm sure you understand.

[RKS Computer Solutions]

If you cringe at the idea of taking on an experienced partner for the sake of business, rather dip your toes into the water on your own... Taken from the objective of making a hobby into a business, this would be great as you would be learning at the same time as building up your reputation, instead of just looking like the lackey for the guy with the knowledge...

You've mentioned that you've been around business owners your whole life, so take the plunge and use those people as mentors, have them guide you where needed and keep on asking questions, it's the only way you'll ever be able to stand on your own feet...

[Snoopy_inc]

well my thinking is that i could learn alot more by having a partner on this venture... this is by no means the only company that i will start. I have my eyes on a couple of things that will work together eventually.

My query still stands about what roles one should take and what kind of questions one should ask that there isn't any misconception of who does what and how one does it etc.

[Dave A]

Part of what makes this tricky discussing in a forum format is that when it comes to partners there are so many variables. It is certainly way more complex than kicking off on your own.

One of the quips I remember was something along the lines of "You need to pick a business partner more carefully than your wife!" Whilst I'm not sure about the more part, it certainly isn't that far off the truth.

So how do you go about picking a life partner? Is there really a stock set of questions?

I think at the end of the day the key ingredients are trust and commitment. Missing either one and the prospects of trouble escalate dramatically.

Probably the only other piece of key advice - and this one I expect should be a basic must although I break it all the time - Plan the divorce before the wedding! With any luck you'll never have to implement that plan, but simply having it there, and knowing full well the price that goes with the break-up can actually prevent a poorly considered parting of ways.

[Snoopy_inc]

"Plan the divorce before the wedding!" --- give me an example of what you mean by that. IE how would i go about planing something like that?

Some sort of legal document that says after a period of time either one of us can buy the other out or how would one work it.

[Dave A]

Basically, issues around dissolution of partnership need to be thoroughly dealt with in the partnership agreement. Unfortunately, every agreement I've ever seen has had some aspect in it I've never seen before, or some subtle combination of nuances. There really doesn't seem to be a "best practice" version.

Probably the only way to deal with this is to get some sort of standard proposed agreement and check that both partners are comfortable with every aspect. Don't be shy to propose a change if there's something you're not happy about.

Whatever you do, you're unlikely to be doing the "dance of joy" if the day ever comes where you start using the bust-up clauses - so don't expect some elegant solution. Win/win is rare at those times.