The observant follower may have noticed that over the last few weeks there have been less entries in my blog. This is not because I have forgotten about it, but I have not had time to write anything. In fact I am now two book reviews behind!! You are probably thinking to yourself – what has he been doing to be so busy. Well sadly one of the things is trundling up and down the motorway to the Midlands, helping sorting out my brother Stephen’s estate. The other is working on my new business plans.
Yes the current plan is to have our new business venture up and running by the start of May 2012. As part of the planning process for this I am going weekly to business start-up course being run by the pne group at the city library – the lecturer is Melissa Middleton
She is very good at keeping us awake and interested even when all we want to do is go home, get some tea and put our feet up rather than thinking about our new business plans. The course runs for 8 weeks and briefly covers all different aspects of business planning. Now half way through the course I thought it would be good to record the process to my business launch. I am sure in the future I will look back at this with feeling- quite what that feeling will be depends on how things turn out. Anyway hopefully I will try and document the next few weeks and record them as a weekly update.
A Jumbled Mess
There is some form of process that the mind goes through when transferring a idea or thought down on paper. It means that the idea becomes fixed and recorded at that point in time. The process of writing a business plan makes sure that this is carried out for the business idea. Having committed the words to the plan, it can then further discussed and reviewed, trying to turn the jumbled mess of ideas into an ordered state.
The ultimate feedback loop record => review => refine is being carried out.
Our business plans have gone through this process. Prior to committing them to paper they have been knocked around for about 6 months The first version of the plan was written following a template from a bank. It was used in several initial discussions, and helped me realise that it would be helpful to go on a course (all be it refresher for me as I have run a business before – a decade ago) to improve our plans.
The pne course has provided lots of resources, including a different business plan template. As it ties in with the course then this is the one we are currently working on. Each session in the course covers different areas of business planning and practice, challenging us to put into practice or update our business plans with what we have learnt that week.
The last session was on legal issues. We had a guest speaker Peter Millican the principle of Peter Millican Law http://www.petermillicanlaw.co.uk/ covering the different types of business models. What a brilliant speaker, covering complex issues in a clear and easy to understand manner. This was quite a challenge for me as until then I had thought I was going to set up a limited company, but probably this will be changed to a limited partnership. I did not fully realise that limited partnerships existed before then, nor did I quite realise the complexity of employment regulations that come into play as a limited company. Compliance with these seem a real hindrance to setting up a small company.
So the ideas get refined, and the business plan gets a re-write and the picture becomes clearer.
Role on next week – what is going to have to be changed then?
Dyslexic doodles on photography, food (growing, cooking & of course eating), faith and other fascinating things. This is a personal blog expressing my views.