Interviewing an Entrenpreneur

[SantozRey]

This might not be the best place to try to get my homework done.... but what the heck.

I'm looking to chat with someone that owns there own business and could answer a couple short questions.
I'm a student at CSU Pomona (CalPoly) and studying business, with an emphasis on entrepreneurship. I was hoping I could do a short interview with the owner, the main topic being concerned with the Business Plan.

-Entrepreneur's Name
-Company Name
-Description of Company
-Age of Owner
-Before starting your business did you write a business plan?
-How long did it take you to write the plan and how long (pages) was the plan?
-Do you ever refer back to the plan (post-completion)?
-Did the business plan help you with your business? If so how?
-Do you think the plan helped with your success of your business?
-If you had to do it all over again, what would you do differently?


...... I really appreciate your time.

Joel

[JohnRobHolmes]

This hinges on a business plan. I did not write one, but I mentally had an idea of where I wanted to go. I could fake it though, as I have taken courses that went over that stuff.

[SantozRey]

The business plan part is the main concern.
I would like to find some one with one... if possible.

[binaryterror]

Here's a hint...go to a real (actual live store or business rather than online only) company and state this story. Most companies will let you talk to the powers that be.

Try talking to a Dealership...those are usually easy to get into.

I just finished a business plan for a new business that my boss is running. Very unique experience...its all BS for getting money really. It has nothing to do with business plan, that like JRH said is usually more often stored in the head. The business plan is fluff to get money/loans secured.

[roktoy]

Originally Posted by binaryterror

I just finished a business plan for a new business that my boss is running. Very unique experience...its all BS for getting money really. It has nothing to do with business plan, that like JRH said is usually more often stored in the head. The business plan is fluff to get money/loans secured.

Really? So what if you're putting up money for the business. You're just BSing yourself?

I think you'll find that more often than not successful businesses DO have business plans that
consider the present and look to future plans for growth and improvement.

Jay

[jaxcoffee]

Originally Posted by roktoy

Really? So what if you're putting up money for the business. You're just BSing yourself?

I think you'll find that more often than not successful businesses DO have business plans that
consider the present and look to future plans for growth and improvement.

Jay

Not really. Been in business thirteen years. Started with nothing, built it to what it is today. No plan. No one elses money. Not even the banks.

John is closer to what is the heart of business. and Binaryterror is right on.

All the classes will tell you the same crap.....but for the most part, they are not real world. Hard work and a good idea still is the best plan for making it. Of course, you have to decide, what is making it.

[binaryterror]

Roktoy, if you are the money guy and starting a business you don't need a business plan on paper. If you need to write a business plan to convince yourself of the goals and objectives you might not really want to be in business.

My boss has 1 successful company (the one I work for) that has had nothing for a plan, just his aspirations, hopes, dreams, and some sweat and tears on his part. 25 years running without ever needing a major bank loan, so has never had a business plan on paper.

The new company is new...he wanted to try to start it using all bank money and pay it back due to the industry it is in...fast payback, why use self capital when a quick payback bank loan builds new business credit very quickly.

It is a good idea to have a plan...but it doesn't have to follow the typical book plan thats over 35 pages of information.

[jaxcoffee]

Originally Posted by binaryterror

Roktoy, if you are the money guy and starting a business you don't need a business plan on paper. If you need to write a business plan to convince yourself of the goals and objectives you might not really want to be in business.

My boss has 1 successful company (the one I work for) that has had nothing for a plan, just his aspirations, hopes, dreams, and some sweat and tears on his part. 25 years running without ever needing a major bank loan, so has never had a business plan on paper.

The new company is new...he wanted to try to start it using all bank money and pay it back due to the industry it is in...fast payback, why use self capital when a quick payback bank loan builds new business credit very quickly.

It is a good idea to have a plan...but it doesn't have to follow the typical book plan thats over 35 pages of information.

Well said! When you can get cheep money, and pay it back quickly, that's a good plan.

[roktoy]

Originally Posted by binaryterror

Roktoy, if you are the money guy and starting a business you don't need a business plan on paper. If you need to write a business plan to convince yourself of the goals and objectives you might not really want to be in business.

My boss has 1 successful company (the one I work for) that has had nothing for a plan, just his aspirations, hopes, dreams, and some sweat and tears on his part. 25 years running without ever needing a major bank loan, so has never had a business plan on paper.

The new company is new...he wanted to try to start it using all bank money and pay it back due to the industry it is in...fast payback, why use self capital when a quick payback bank loan builds new business credit very quickly.

It is a good idea to have a plan...but it doesn't have to follow the typical book plan thats over 35 pages of information.

Guess I'm thinking more about stated goals and objectives than maybe an actual written business plan. You see alot of people start businesses with no idea of a goal, direction, or thought about whether or not the business is profitably viable. So they end up working 100 hours a week and making minimum wage or losing money with no reasonable expectation of it changing in the future.

You make good points. Thanks.

Jay

[jaxcoffee]

Originally Posted by roktoy

Guess I'm thinking more about stated goals and objectives than maybe an actual written business plan. You see alot of people start businesses with no idea of a goal, direction, or thought about whether or not the business is profitably viable. So they end up working 100 hours a week and making minimum wage or losing money with no reasonable expectation of it changing in the future.

You make good points. Thanks.

Jay

Heck Jay! You just described my business! A 100 hours? Thats just 4 days out of the week. I like the expression. I only work half a day. Choose which 12 hours that represents. Like I have said before, in the coffee business, sleep isn't all it's cracked up to be!

No, seriously being in a small business means being able to move ahead and grow even though you have no reasonable expectations, and no idea as to wither you have a future. I believe you could sum it up in one word.

RISK!

You are either someone who talks about doing something, or you are a person who is willing to take the risk, and DO IT!

Kind of sounds like a Nike commercial doesn't it? JUST DO IT!

[DirkDigler]

I'll help you out if needed.
I have a partnership within a development group that builds low rise and high rise, Class AA office buildings. I started my own percentage segment within the partnership(own business) and might be able to give you insight on your studies. I also went to University of Redlands, which is in your area. I basically retired after only a few years after starting my segment. I got bored and work most of the time now for fun. Shoot me a pm if you'd like to chat.

[SantozRey]

I interviewed the owner of HobbyTown in Redlands.

...thanx for the help/comments...