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The Business Plan question


caserri
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Excellent post Grumpy.

Can you continue to discuss this in a series of post. This is great information that is easy to understand.

I for one do believe in business plans and personal plans in my life but I can also see what you are saying about flexibility.

Gary

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Grumpy,

Love the way you think! Hmmm sounds like how I put mine together. Im enjoying the ups and downs of this business. Life is too short not to enjoy things around you and try something different. Keep posting these awesome thoughts!

 

 

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Thanks Grumps for your thoughts!  Me personally?  To be honest, I really need someone to tap into helping me with how I make business decisions on everything I do in this business.  Its NOT a strength of mine.  I enjoy spending money. Period.  Not proud of that, but its just a fact.  My first 40 locations with everything that is included within that costs way too much as I look at it in Vendtrak.

The bottom line is I am totally determined not to be undone by the pitfalls of the vending business and any poor decision making on my part. I will learn from my mistakes as I work on the next 40 locations.  It will be interesting for me to compare location 1 thru 40 to 41 thru 80.

I am confident that within three years, I will have a viable business that will supplement our income on a monthly basis.  ( which is why we started this in the first place ).

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Great information Grumpy.  A lot of people unknowingly jump in spending a lot of time and money without any knowledge.  The best part of the post is:  Buy used "cost effective" machines. 

Thanks Grumpy.

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Great post Grumpy!

We did this exact same thing when we were thinking about getting into this business.

We came up with a dollar amount goal, and then broke everything down to see what it would take to reach that goal.

For us, it was more than obvious we were going to need to start with used machines. Also, that we would have to do our own locating.

I do want a business plan in place though, and I'm still working on mine. It's just psychological for me, but it makes me feel better having a plan I can refer to from time to time.

Thanks!

Dave

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Thanks Grumps for your thoughts!  Me personally?  To be honest, I really need someone to tap into helping me with how I make business decisions on everything I do in this business.  Its NOT a strength of mine.  I enjoy spending money. Period.  Not proud of that, but its just a fact.  My first 40 locations with everything that is included within that costs way too much as I look at it in Vendtrak.

The bottom line is I am totally determined not to be undone by the pitfalls of the vending business and any poor decision making on my part. I will learn from my mistakes as I work on the next 40 locations.  It will be interesting for me to compare location 1 thru 40 to 41 thru 80.

I am confident that within three years, I will have a viable business that will supplement our income on a monthly basis.  ( which is why we started this in the first place ).

Johnny don't be so hard on yourself, I know I really did not cover the actuall real cost aspect of the business. But I will in the next segment. And who doesn't enjoy spending money, I'm considered frugal (read cheap) but man when I want something, it is always expensive. :D The best part that I see for you is that great positive attitude of yours and you do have a plan and you are not alone, your wife is sharing this with you. We all learn from our own experiences, no matter what people tell us or how much research we do, it always lies on our own experience. (just like teenagers, no matter what you tell them, they have to try it)
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Lurker,

Thats great!

Personally I think everybody uses the term Business Plan in the wrong context. Business plans are really only good for one thing, financing. If you approach a lending institution they really want to see a business plan. But to me a business plan is a lie, just like in a resume its as close to perfect as you can get. You focus on all the things that will make it positive (or get you what you want)

I think for or uses it should be call Business Goals, because in reality that is what it is. Were are we today, were do we want to be in six months a year or two? How are we going to achieve these goals, what is acceptable, what is not? etc ...

 

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I have a request for somebody smarter than me to build a simple Excel spreadsheet, using the parameters in the post. Then uploading it to the tools section with a link from this post for all to use.

Any takers?

This will be a start to a more in-depth business goal tool for our community to use, scenario based planning is both fun and educational.

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http://www.vendiscuss.com/forums/view_topic.php?id=1719&forum_id=36http://www.vendiscuss.com/forums/view_topic.php?id=1708&forum_id=36' target=_blank>

All posts will be in the bulk area, you will not be able to post were the article is being created so please post here.

I need your help to make this the best vending e-book ever.

It currently is a work in progress, and will evolve over time!

I have chosen to do this e-book in a story fashion, by doing it this way it allows the transfer of the most information possible with out being to boring. But don't worry their will not be a romance scene in it.:D

Grumpy

 

 

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  • 9 months later...

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