Business Plan Questions by J. Kevin Knierim https://padlet.com/jknierim/8uykv7jvf5rk Questions you have as you work on your Business Plan en-us 2018-03-28 14:29:53 UTC 2025-09-26 06:20:39 UTC hello@padlet.com https://padletuploads.blob.core.windows.net/prod/80264060/cdf38ae2d21ee13c036196e76c1eb262/Backback.png This is designed for any questions that you want to have answered jknierim https://padlet.com/jknierim/8uykv7jvf5rk/wish/246922231 2018-03-28 14:34:15 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246922231 Proprietorship nguye371472 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982190 What is proprietorship? and is it wise to start off as a sole proprietorship. 

JKK - Look at your resources from previous section.

]]> 2018-03-28 16:37:10 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982190 gaona308398 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982203 what does "opportunities" mean in the SWOT analysis? and how can i elaborate on it?\

JKK - Did you look at the resources in the section for SWOT analysis]]> 2018-03-28 16:37:13 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982203 business patte480678 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982519 how long does our key activities have to be ?

JKK - Long enough to cover all the key activities that your business needs to address.

]]> 2018-03-28 16:37:56 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982519 Business Plan salis329279 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982535 How can I make my writing more professional?  I know what points I am trying to get across but I can't seem to convey them to the reader as well as I want to.

JKK - Practice.  That is the best way, also have them proofread by others that you feel write well.

]]> 2018-03-28 16:37:58 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982535 garci439525 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982783 Is it smart to go into a business with the mindset that your a corporation?

JKK - It depends on the business, the amount of money you have, and the potential liability.]]> 2018-03-28 16:38:32 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246982783 Question price450908 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246984144 How long does it usually take for a business plan to go through?

JKK - It depends on the business.  A business plan doesn't really "go through".  It is used to manage your business.  And it should never be "completed", it is something you should review on a regular periodic basis.  

If you want to discuss this further come see me.

]]> 2018-03-28 16:41:25 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246984144 Financial Ratios ponce315535 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246985660 How should one approach;  ROI, ROS, Payback, Break-Even, EOU, if they've hardly ever ehard of the terms?

JKK - We will learn about those next week, and there is a spreadsheet that will help you determine those .]]> 2018-03-28 16:44:39 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246985660 LLC or CORP jasso298874 https://padlet.com/jknierim/8uykv7jvf5rk/wish/246991190 whats the difference between an LLC and  a corporation?

JKK - Did you look at the resources in the section for Business structure?]]> 2018-03-28 16:56:14 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/246991190 Business aguil304344 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247001930 What are some ways I can expand my Business structure ?

JKK - Make sure you review the business structure resource. The primary thing is to provide as much detail as necessary, don't make broad statements.]]> 2018-03-28 17:18:09 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247001930 in the cost structure how would i find the revenue stream ander492662 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247008919 W will discuss that next week]]> 2018-03-28 17:33:02 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247008919 johns299997 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247373486 If you know exactly what you want to do, how long does it usually take to make out the full business plan 

JKK - It depends on the complexity of your business. Some can be done in a few hours some may take a year or more. And you are never truly finished, you should regularly be evaluating your plan.]]> 2018-03-29 18:58:07 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247373486 taylo331149 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247374859 when starting a business how much money should you ask to be loaned to your business, and how much money should you spend yourself?

JKK - It depends on how much you need ]]> 2018-03-29 19:02:41 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247374859 leal317625 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247376055 How would I be able to get my product into retail stores to expand to more customers?

JKK - That is where key partners come in to play. You have to start making connections, and having conversations with local, and regional stores to get access. ]]> 2018-03-29 19:06:59 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247376055 marti319982 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247376743 If you start a business and it's not making the amount of revenue it should be making, what would be the ideal thing to do?

JKK - It depends on how long you have been working at it? At some point the best thing you can do is shut the business down to prevent further loss. But you want to set realistic expectations.]]> 2018-03-29 19:09:21 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247376743 wickw376968 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247377659 will this business plan contribute in our life even if we don't end up being a entrepreneur ?

JKK - YES!!

It will give you an insight into what is needed to making a business run. So even if you don't start your own business, you will be able to help with components of your employers plan.]]> 2018-03-29 19:12:51 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247377659 T nunez316598 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247379080 What is a way to minimize the amount of taxes you owe in a business? Because i hear of owners paying themselves to avoid extra fees or taxes...

JKK - Talk to a tax accountant, that is their job. It depends on your individual situation, there are many ways you can reduce taxes, but not everyone is right for every situation.]]> 2018-03-29 19:18:23 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247379080 marti349429 https://padlet.com/jknierim/8uykv7jvf5rk/wish/247382563 What parts of the business plan do investors look at the most?

All of it. They want to know the financial side of it, but they want to see how that money is going to be made and any assumptions that are being made.]]> 2018-03-29 19:32:13 UTC https://padlet.com/jknierim/8uykv7jvf5rk/wish/247382563