The Wholesale Forums

[signify]

Hi All,
I just have a thought that comes to mind when I plan to sell my clothing online and that is how many of you guys have actually NOT really had a fully written business plan to get your businesses off the ground but still had a successful business? I know "successful business" is a vague phrase but what i mean is where you are happy with how your business turned/is turning out?

I plan to sell 25 t shirts to start of it online ebay/my own website but for something this small all that is needed really is a small forecast unless I start adding more stock.

Regards
Taz

[D M]

Numbers over words anyday.

[hardwareheroes]

Yeah, I would not consider a business plan necessary at this stage unless you intend getting big and need funding.

You can do what you need to do in your head no doubt.

[Pete]

A what?
.

[greedyboy]

A simple P/L forecast using a spreadsheet is all you need to a) forecast your cash flow and b) see where your outgoings are at and how to reduce them (to make even more lolly!).

[uhafmail]

I would advise you writing something down even if it is what Greedyboy suggests about a forecast. A lot of start ups fail because they do not leave any money behind for cash flow - they have £1000 to spend and spend all £1000 and once they sell it all they have no stock because it is all tied up in paypal or you need money to pay postage fees etc.

[geosamm]

I did a business plan for one of my bank managers, because I wanted to use his [the banks] money to finance something.... instead of mine. He knew I had 10x the assets to cover the loan, but insisted on a business plan. I complied, presented him with the plan and a letter from his boss to be read after he had made his decision. He agreed the loan and I tossed the plan into his waste basket. He opened the letter and said..... It looks like I made the correct decision.... I changed branches.... and later banks when I had a statement saying they had cashed a counter cheque against one of my accounts because.... and I quote.... "It looked like my signature".... confirmed my suspicions that all the idiots are in westminster.

[MacLover]

Business plan no.

[lighthousedirec]

Personally I think this is an area where so many businesses go wrong.

I have a plan, with targets etc entered into it, some I hit, some I am yet to hit, but it certainly helps focus your mind on your business.

The amount of guys I know who sit around without too much of an idea of where they are, where they intend heading etc, and then they seem suprised when they have no idea they worked for a couple of years for very little return.

I would suggest everyone makes their own plan, be it a simple P+L or more detailed version. I use a minor version every day, until I cross everything off the list of things I intend to do I continue to work.

[Andy777]

I have several plans - they are not classical Business Plans (get sick of writing them in Business School) but they're very important to me as I couldn't see the whole picture without laying it all down on the paper.

I also have quarterly, monthly, weekly and daily action plans.