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Help writing my business plan

Discussion in 'Starting Your Business' started by Foxus, Jan 5, 2016.

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  1. Foxus

    Foxus Member

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    I'm trying to write out my business plan to hopefully 1. Convince my folks this risk is wroth taking and 2.Begin making my entrepreneurship vision a reality (including securing funding). Can anyone help me write my business plan out, or at least offer pointers, on making it seem like it isn't so overwhelming to write, and present?
     
  2. Griffin

    Griffin Member

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    I would suggest giving us a brief idea of your business. Certain niches have certain aspects investors look for, so by giving us a better idea of a business, we'll be able to give you more specific and effective suggestions.
     
  3. Pop

    Pop Member

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    There is no such thing as a generic business plan. What are you seeking? Investors? A grant? What groups are you approaching? Individuals (private individuals, venture capitalists?), banks, funds, charities?

    The first rule of communication is don't just think about what you want to say. Always write for the audience. Always know who the audience are. Always know what you need to make them believe. Always have a strategy for achieving that goal.
     
  4. Foxus

    Foxus Member

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    Its a cannabis business...didn't scare ye away, did I? ;)

    But its not a brick and mortar cannabis business, its a e-commerce cannabis business (therefore, I don't have to worry about the pains that come with trying to open up shop e.g. being approx. 1,000 sq ft away from a park or school). The problem would be doing sales online. The only cannabis sites I have seen that do transactions are mainly based in either Canada or the UK, and they generally deal with selling seeds (not what I would be selling though).
    I would just have to deal with finding a warehouse for inventory.

    But that aside, I can understand why investors, let alone banks, would be shy in my entrepreneurial pursuit, at least at this stage in long run. I could use funding, so I guess we could start there.
     
  5. Barnes Thomas

    Barnes Thomas Member

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    According to my opinion, your business niche is quite complex.. no wonder why banks doesn't show interest
     
  6. Foxus

    Foxus Member

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    I haven't begun to approach banks, let alone investors, why? Because I don't know how to go about writing a truly effective business plan.

    Because of how volatile the cannabis industry is right now, I can understand why some would be weary investing in such a hot topic right now, but at the end of the day, what I am looking to do is fulfill a need. Take advantage of the digital age, making this dispensary completely digital. Making medicine consistently available and convenient to attain. Both in a website and an app. I firmly believe we are at the helm of a cannabis gold rush, yes its risky, but everything in life, unless you live as that boy in a bubble, is risky.

    For example, a medical patient comes to look for some strain of medical marijuana, but doesn't know which will best suit his/her needs. The marijuana would be divided into different categories (e.g Nausea, Insomnia, Epilepsy, Arthritis, Depression, Anxiety). Any symptom that has been proven to be contained, or made more tolerable by marijuana, would be included, with a detailed description of how this strain would make you feel, the duration of the strains effect, amount of THC/CBD, how would sativas/indicas interact with prescribed medication, basically takes the guesswork and a "trial and error" so-to-speak out of what a marijuana consumer is looking for.
     
    Last edited: Jan 6, 2016
  7. dyanmarie25

    dyanmarie25 Member

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    Well, we're talking about cannabis business here, and honestly, I couldn't think of any advice to give to you since that field is a little controversial. Anyway, if that's the industry you would really love to invest in, then I hope you'll become successful there. Just stay determined, and be very patient.
     
  8. K

    K Member

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  9. Griffin

    Griffin Member

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    Sounds like a risky business that I'd rather not venture into/assist, so I'll step out here. Best of luck to you with your business.
     
  10. Foxus

    Foxus Member

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    Where most likely would you recommend I find venture capital or assistance for my business, given its nature?
     
  11. Griffin

    Griffin Member

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    I'm sure that some people here may be willing to give general assistance, just specific advice may be limited since I doubt may here are involved in a business of that niche. Finding funding will be difficult, it's a risky and somewhat disliked sector.
     
  12. T J Tutor

    T J Tutor Member

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    The business plan must come before you can consider financing or investments. Neither of those will transpire without a full business plan including market data, demographics, projections, sustainability and growth reports, and you will need to incorporate before presenting the package.

    You will also want to begin on your pitch and rehearse the hell out of it in front of a mirror. Your script for the pitch will change often through the process of building it. Make sure you are well researched on all aspects of your business, yu will get a load questions and you will never want to be caught without an answer.

    K gave you a great recommendation for a place to get a plan completed. It's easy when using a guided method like he suggested.

    Make sure to get all of your research done before building your plan, much of your research will be implemented in your plan. As you are building your plan, you can always come here and ask questions. There are many of us here with decades of experience in business and all of the startup efforts it takes to bring them to reality.

    Looking forward to your posts and threads.

    Remember that the number one element that makes us entrepreneurs is that we are willing to do what others will not. We push on in the face of struggle, we put in all of the time necessary to achieve our goals, we never allow the thoughts of others to stand in our way, and we are the most tenacious researchers, planners, and implementers on the planet!
     
    K likes this.
  13. Jessica Danes

    Jessica Danes MVP Member

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    When I was first planning my business, I used this site to help me model what I needed to include and think about before investing my time and money. It was hard to think about, honestly. I kept putting it off until I finally had to reason with myself, and spend the time focusing on my dream. Thankfully, it helped get me to where I am today.
     
    djbaxter likes this.
  14. YourRetailCoach

    YourRetailCoach Member

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    Writing a business plan depends on the business objectives of the plan you got to revise, plan, run and review. Do a market search; identify your product as well as your potential customer. Try approaching bank first and then investors for starting a business.
     

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