Tuesday, March 16, 2010

Ron Kornfeld five steps to writing a business plan

When I first listened to the lecture I for some reason I heard things wrong. I had it in my head that he was saying that companies wanted a short concise business plan, but after writing a business plan myself I now realize that he was talking about the executive summary.The area that impressed me the most about Ron was that he had looked at so many business plans. He definitely made a strong point about the importance of having a quality business plan. Prior to taking this class I didn't even know what a business plan was. I at one time had my own business coulking tilt up warehouses that lasted all of about eight months. My brother in law and I were partners all it cost was $500 worth of equipment that I bought from my uncle and he also gave me his list of contacts. All we had to do was put up a bond in order to get credit from suppliers and go from jobsite to jobsite and under bid the competition and we were on our way. I remeber one time this general contractor was too lazy to put some asphalt emulsion on on 1 wall of his building that was butted up against a hill so after I caulked the seams about four feet up the wall so they could back fill, he offered to supply materials if I would roll on this emulsion on the wall. I said I'll do it for $500 mainly because I didn't want to do it but he accepted so I got paid $500 for 2hrs worth of work. Getting back to my point we did have to give a portfolio of jobs that we had done when we bid on work from foushe and associates. That was the closest thing I'd seen to a business plan.

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