Part #2 continued....

Money equals business which equals power,

all of which come from character and trust.

J. P. Morgan - Founder J. P. Morgan & Co.

The Financials have got to be the hardest part of all to come up with when everything you need to consider requires alot of math, and a bit of more research.

You have to consider everything from leasing cost, to what every bit of operating expense will be. Then add & subtract profit , and losses of all sorts that when you have to repeatedly figure out the stuff that eventually becomes the bottom line you hope will make an investor smile, and give you the loan without question.

The profit & loss statement... Jeez how many times I have to write about it?

Gross profits are just the part of the dream of what you can do with a $1.00 store. But to be honest when you start doing the numbers and figuring out that $900,000 is the gross profit for just the first year, your eyes go wide open, and your mouth begins to drewl down your chin! That's when the reality set in when I figured in all the other factors of owning the store in the first year.

How I went from $900,00 to 156,358 in one reading of a statement!

My gross profit margin looked great, hell it looked awesome from what I could see! Little Red, and i would be in the big bucks in no time!

Yea right? That's until I started getting the averages for utilities, payroll, freight charges, and all the other stuff that makes it to where you can run the store.

With each cost to run run the darn store the profits began to fade. My hopes of actually being independent of having to work for someone else almost began to fade as well! But there was still hope in the long run.

With net profit as it would be, hey that was not to bad at all. Hey it could help pay for the holes in the wall from when my head connected with the drywall. To own a $1.00 store it takes work, and work you have to be dedicated at if you want to make a profit. Yes there is earnings out there just waiting for a store just like mine but you have to go the distance, walk the line, zig when others zag, and everything in between!

Go for the profit! And all your dreams!

Wounds heal, and so do the wow effect of what it takes. Begin to dream, write it down, bang your head against the wall at times, but remember it can work!

Never stop looking at your dream!

Part #1 The Business Plan & the darn stitches in my head, ouch!

"The wise man bridges the gap by laying out the path by means of which he can get from where he is to where he wants to go."
J.P. Morgan -Founder J.P. Morgan & CO.

Wise words from someone that was ahead of the industrial revolution the United states transformed into. But what exactly did he mean by these words?
Ask any professional that is operating or managing a successful business or career that question, and they will tell you it's all in the "Business Plan".

The business plan to many professionals is something they should be familiar with but, then again there are those out there that have the next great invention, or business idea, and shutter when asked several questions. The first one always being "Do you have a business plan I can see? This indeed always leads to the verbal description, and belief of the benefactor that what they know will work, if only someone would believe in it as well!

This is where it begins, not just the idea, but letting others know exactly what they need, right after you explain what you need to give it to them!

The business plan is the most essential tool to anyone in business, but also in their personal life! Think about a young married couple that now has a child on the way? How will they afford all the added expense, and changes in their own lives, as the child grows? The same thing happens as often in business as well! Whether someone has a invention, or business idea, it is much like the new child. It is up to them, like the parent to nurture the idea. As a child's needs grow, so do the needs of the business owner, both references act in the same nature, because as parents they want their child to succeed, no business owner says "Hey we broke even again this year, Woo Hoo!" In fact the very idea was that they wanted to have their business grow with the ever changing environment around their business, and basically make a profit so they can enjoy the fruits of what they have created.

A neglected child suffers, much as the business owner can neglect their business.

Now please do not get me wrong about what I just referred to, because even a child with loving parents can fail to see what their child's developments have become, and their needs of change, yet they do not educate themselves, and the child begins to become less in their own development. The same holds true with business professionals, they care about what they are doing, devote attention to it, but fail to help the development of their business's needs as the environment changes daily.

Go as far as you can see; when you get there, you'll be able to see farther.

What am I saying with this psychology stuff, when all you were expecting was 1. What is the Business Plan? Or 2. Where does the stitches on his head come from?

The answer is simple to both questions really! When you begin to write a business plan, it is of the utmost importance you start with all that you believe, and all the energy of what it takes to demonstrate your fervour in why someone would want to invest in you! That becomes the toughest thing you can ever write. It's what makes them believe in your dream right from the start! You must project everything that you feel deep inside yourself, in words that will make others keep reading or place your business plan in the rejected pile!

The Executive Summary: That's where you begin!

You can begin babbling why you are the next best thing to sliced bread, or begin intelligently to where you capture the person reading it!
Like myself I wanted to open a store that sells products for $1.00 or less. Okay, ask yourself "geez there are other dollar stores that already do what I want to do, right?
Wrong I plan to do what the others are not doing, which is my belief that will become a customer need, and I got it! The demand that the competitors do not provide regularly fulfilling their needs!

Ask yourself, what do I have that is what they need?

Okay, but where do the stitches in the head have to do with this? That's because when I believed in my dream, I had to come up with alot more than just telling a lenderor investor my great idea!

Next post I will continue with why the stitches in the head?

OK this one subject will have many parts and I can only write so much in a day, sorry.