business plans?
- Thread starter tncattle
- Start date
Running Arrow Bill
Well-known member
tncattle":2o19vlg5 said:
Check with your Ag Extension Service, State Land Grant University's Animal Science Program...
Also,
A business plan is basically: Who, What, Why, When, Where, and Financial position, expected revenue from business, and essentially a 5 year plan.
Advertising, marketing issues also important to include.
Is the business set up as a "Business" (e.g., separate checking account, chart of accounts, business cards/literature/advertising in place?
Details, examples, flow charts, financial statement, etc., stuff to enhance the business plan.
You need to set-up and maintain a "paper trail" within your business: invoices, accounting records, etc.
If one is planning to borrow money...well...the various lenders will often have their own requirements for more details, categories of information, and other beaurocratic stuff.
Bottomline: Does your business plan "Prove" that you are serious, qualified, dedicated, legit, and have CYA with IRS requirements for reporting, etc. And, does plan "Prove" that you have developed a plan seeking a "For Profit" business?
;-)
Susie David
Well-known member
The business plan should contain every possible event, thing or concept that effects your business.
Important to make provisions on how to end the business in the event that it becomes necessary.
IMO...start with why you want to be in the cow business, your vision, goals and objectives.
Doing a comprehensive business plan will give you cause to examine your values, motives and resources. It is not something to be done lightly with a program that fills in the blocks, you need to design it to fit your vision.
It takes time to do the market research (who you will be selling to), know your suppliers (where do you get feed and for how much) who is going to buy your cattle and how do you market the animals.
Remember that the Business Plan is a living document constantly changing to fit your current situations.
I took a Ag marketing course a few years ago in which one of the graduating requirements was to develop a business plan, since we already had one I thought that it would be easy...updating our plan took the whole course and was the best time I have ever spent on the business and we're still changing and updating.
Just my two bits worth....Dave Mc
Important to make provisions on how to end the business in the event that it becomes necessary.
IMO...start with why you want to be in the cow business, your vision, goals and objectives.
Doing a comprehensive business plan will give you cause to examine your values, motives and resources. It is not something to be done lightly with a program that fills in the blocks, you need to design it to fit your vision.
It takes time to do the market research (who you will be selling to), know your suppliers (where do you get feed and for how much) who is going to buy your cattle and how do you market the animals.
Remember that the Business Plan is a living document constantly changing to fit your current situations.
I took a Ag marketing course a few years ago in which one of the graduating requirements was to develop a business plan, since we already had one I thought that it would be easy...updating our plan took the whole course and was the best time I have ever spent on the business and we're still changing and updating.
Just my two bits worth....Dave Mc
