Christopher Hollis ⋅ Grand Rapids, MI U.S. Marine Corps, Sergeant ⋅ 13 years served

I manage a real-estate team in Michigan. Let me know if I can help with any models of conversions. I know your local Keller Williams office can provide free business planning as well. I can connect you with that as well.

Beth Ward ⋅ Laramie, WY ⋅ 25 years experience

Thanks for your service Terry, and congratulations on your plan! Business plans - both the planning around the endless details and the writing itself - can be hard and overwhelming. If you're stuck on the planning for all the things the module mentions, you can connect in person with a score advisor for help (or other local small business supporter).

I would also share that very simple and straight forward business plans work just as well as the traditional templates. It can help to pretend you're talking to your neighbor, walking him through all the parts of your plan. Make sure you have conservative financial projections, and that you've covered the basics, including an escape route should you need one, and this can be enough to start the conversation with a banker or supporter.

Also, bankers are paid to be sceptical and find holes in a plan, so they make good advisors that are free. The trick is to find an experienced and friendly banker who focuses on local small business ( not the person who is looking for bigger fish and asks for complicated projections and throws around a lot of finance speak). Good luck!

ralph wallmeier ⋅ Fortville, IN The adidas Group ⋅ 25 years experience

Terry - Congratulations on getting your business off the ground. This is a very worthy cause and one I highly respect. I have done something similar in the Indianapolis area. Please, please, please make sure you consider the following. Most people only focus on building wealth, not protecting it. Consider building a "Power Team" to help you build your wealth at the same time protecting the wealth you've built. A "Power Team" should consist of a few people you highly respect and most importantly TRUST. Start with an Attorney, in your case, you will need a Real Estate Attorney. Someone who is extremely well versed in your local real estate law. Then look for a trusted Banker, possibly someone you have done deals with in the past. Also look for an over qualified CPA and Bookkeeper to help you stay organized and maximize your tax benefits and deferments. These are the four people you should consult with every deal you make. These four folks will save you money in the long run and should help you shield your wealth from exposure. Good luck Terry!

Terry Peterkin ⋅ Raeford, NC U.S. Navy Reserve, Ensign ⋅ 4 years served

Thanks, I'm currently doing the Score business plan module now- it's tough work. I think at this stage of the game I would be better suited shadowing someone that wouldn't mind me learning from them.

John Green ⋅ Cary, NC Information Technology ⋅ 40 years experience

Congratulations. Here is a potential resource that may help :

https://www.score.org/business-plan-resources