Has anyone tried either "The SBA Loan Easy-Step 123 Kit" or the software put out by sbacash.com? My main goal is to improve my chances of getting an SBA loan since that seems to be the most likely source of capital for us. I checked out the SCORE link eariler in this thread. The info in there was excellent, but I've also heard that SCORE isn't necessarily familiar with the SBA process. One of my problems is that I'm not sure what banks expect to see as to an actual format or structure beyone the table of contents - unless that doesn't really matter.

Any thoughts or recommendations?

Neither of them are really very helpful. SCORE stands for Service Corp of RETIRED EXECUTIVES. Now I don't mean to be mean, but they are old people not necessarily up to speed on the modern world. They're great people and they know the philosophy and can regale you with stories for ever, but do they have an idea how to say research a niche market in the e-world -- not a clue.

Your question is partially correct, you need to also add what elements of a business are they looking for. Here's a way to gain years of knowledge for very little. There are several good books on the market that can assist you, but quite frankly there's only one that provides a complete guide, including how to make those pesky sales projections and make the numbers work for profit and project sound management, how to think and how to approach each important topic in your plan with what to include and what not to include, along with direction for what to do to get the right information presented in the right way in the right format. That book is of course mine, "How to Write Your Own Professional Business Plan", subitled "Complete A to Z Guide for Small Business and Start-ups". It's 80 pages packed with valuable information bookmarked for ease of use. You can find it on ebookmall.com for only $20. Here's direct link:http://www.ebookmall.com/ebooks/show...ID=65878&DID=8 The book was written for people like you and with your needs.

You can download a .pdf of a recent successful plan at this address: http://home.comcast.net/~ccsampler/d...planvideoa.htm While this plan is for a $3,000,000 equity investment, the structure is basically the same for a bank loan as an investment, with the exception that the exit strategy is replaced with how you'll secure and repay the loan.

Hope this helps.

Kent Capener

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Morgan --

I couldn't agree with you more. I recently had an opportunity to review the software -- it's easy to use and has oodles of ideas and reminders. It wasn't intended to be a cookie cutter, just a template to help small business owners get started. That's what they have the most trouble with -- taking the action to get started. If the software does the trick and helps them get moving with a plan they can use as a roadmap I'm all for it.

Way too many small business owners 'shoot from the hip' and make lots of mistakes along the way that could have been prevented by developing a plan and 'thinking it through' first.

Best regards,

Denise O'Berry
Small Business Expert
http://www.deniseoberry.com

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I looked at the site and didn't find the words "business plan" on it anywhere, so maybe there might be better place to look for this type of help.

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Wrong! It most definitely doesn't generate anything. You must generate the plan. And if you do use BP Pro don't bother showing the results to any sophisticated investor. Why? Most won't even touch them, let alone read them. Why? Just having blanks to fill in doesn't make a business plan worth anything. The reverse is also true, however, from the people I know and deal with every day, they don't think much of a plan prepared this way. If you must be "e" and use the software make sure it doesn't come out in the cookie cutter format --- because that's the giveaway.

Kent Capener

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Solutions For Small Business

Regarding SCORE, I think it depends on who the individual is..... The experience I have had is that the old guys know how, and more importantly who to call on to get things done. Their networks stay alive well past retirement.

Niche market research is something 2 of the counselors I've worked with have excelled at. They often time know key contacts in secondary arenas that with a few phone calls can get a real in with the key players in the niche markets. A personal introduction from a highly respected retired fellow works wonders for making the right connections. Then one can take it from there to drill down to the details.

As far as SBA knowledge, our local group has SBA seminars put on by them as well as the banking institutions that work with the SBA. It's all about networking. Now if one were to get a SCORE guy that was out of his element, I would have to agree with you. Our primary counselor, a retired high tech exec would not be very helpful for an outfit starting a restaurant for example. However, they do have a restaurant guru available.

Business operation principals change slowly, networks do as well. Now if you got a 80 year old guy who hadn't kept up to date with his speciality, then I would expect problems. Otoh, a 65 year old who retired 5 years ago is still going to be in the know.

Ron

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I highly recommend using software, when you're looking for funding.

Why?

There is a better chance you'll complete yoru plan!

You can always go back to it and add more things.

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Best of success and lots of joy,
Maria Marsala
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Business Builder, Trainer, Author, and former Wall Street Trader

Powering-UP service businesses and the women who own them! Visit http://www.ElevatingYourBusiness.com and subscribe SIMPLE Business Steps Ezine.

I've talked to many bankers. They tell me that folks go to them w/o any sort of real plan, wanting thousands to millions of dollars. Many just walk into their office expecting $

They would welcome plans that contain all the info they need; and the software plans out there provide that information.

If I needed funding, I would purchase Palto Alto and also download sample plans from the SBA site - to make sure that you "got it all"

Last week I was at a conference and listened to VC's and Angels talk about what they want. Some wanted short plans, so that they can "get involved". Others wanted the whole thing... The best suggestion I gleaned was to go target the VC or Angel and read their site for guidelines... or ask them what their guidelines are!

__________________
Best of success and lots of joy,
Maria Marsala
__________________________________________________ ____________
Business Builder, Trainer, Author, and former Wall Street Trader

Powering-UP service businesses and the women who own them! Visit http://www.ElevatingYourBusiness.com and subscribe SIMPLE Business Steps Ezine.