Paul Holzschuher ⋅ Lebanon , OH Ohmart/Vega ⋅ 40 years experience

Hi Marvin
I agree with the others, a business plan is your road map to take to where to want to be.
While doing the "market" reseach you may find a better business idea.
Check with your local SBDC for advise and the service is free.
Thanks,
Paul

Ron Mills ⋅ Minneapolis , MN Simple Science, LLC ⋅ 34 years experience

Passion and energy start businesses. Write your ideas down and start selling it to friends, family and anyone who will listen to further refine your idea till it rings true an makes sense to all who hear it. There's lot's of money out there to fund great ideas and people who can execute those ideas. The devil is in the details and figuring out how to turn your idea in to income producing solutions is a must. You can download business plan templates from microsoft to help guide you.

good luck!

Barry Sosnick ⋅ Greenlawn , NY Great Whites Pediatric Dentistry & Orthodontics ⋅ 5 years experience

Marvin, you should prepare a business plan. You can find resources at your library and online. In short, a business plan is a report that shows how you plan to take your concept and build it into a business. It also includes your financial projections (not as scary as it sounds, I promise) and capital needs (how much funding you need).

The real value of a business plan is that it forces you to think through the details of your proposed business. This will help you identify potential problems and opportunities before you meet your first investor or lender. You will go into the meeting more knowledgeable and confident. Furthermore, it shows the investors and lenders that you are a professional that they can trust, because you gave your idea a lot of thought.

If you prefer some face-to-face help, try to locate a SCORE location. It is retired executives that provide free guidance. Many universities with business schools host SCORE.

Tom Cal, CFA ⋅ San Francisco , CA Army Veteran, Investment Manager ⋅ 25 years experience

Marvin,
What legwork have you already completed, and what resources have you already found and used?

cory mains ⋅ Lynwood , CA U.S. Marine Corps, Corporal ⋅ 4 years served

gofundme.com

Brian Richardson ⋅ Columbus , IN U.S. Army, Sergeant ⋅ 8 years served

Marvin,
Funding can be one of the more difficult roadblocks. But depending on your circumstances, product or service...there might be some ways to get started without a ton of outside funding.

Like Ali mentioned, if you could give a little more insight into what you are doing and specific problems related to how/why you need the money, we might be better equipped to help you.

Brian Richardson
www.VetLaunched.com

Ali Hoban ⋅ New York , NY AOL ⋅ 5 years experience

Hi Marvin,

Could you tell us a little bit more about your business so that Advisors can help point you in the right direction?

Thanks,
Ali, ACP AdvisorNet Staff