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Business plan

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  1. #11

    Join Date
    Jan 2008
    Posts
    228

    Will it stand by itself ? Maybe you need a Camel A to go with it ?

    ~good luck matey !


  2. #12

    Hi Apple&Dog,

    Firstly, the HSBC business plan template is nice - you still have a very large amount of work to do, however.

    I always get worried when people say "it can change the world" about any business, and .com businesses have lot favour a long time ago. I think your initial planning must be flawed...let me explain...

    1. any company that is going to change the world cannot be run from home, and will certainly need staff. .com businesses offer 1 of three things:
    1. Products (Think Amazon). You need a decent warehouse, packaging facilities, postal/courier contracts, etc.
    2. Services / Advice. Assuming you have the service / advice (Intellectual Capital) that people will pay for, you need sufficient staff to service the potential need. If you think your business will change the world, then you have one shot - only one shot to impress your customer base - your staffing must be up to scratch.
    3. Online service (investment/game/whatever). Companies pay millions of US$ to set up equipment (not even talking about the design of the program, or the website front-bit). Online games sometimes approach the hundreds of millions of US$ for development. Your "other jobs" are never going to pay for that.

    I also worry that you are planning on starting a business that will change the world, and that you will run it as a part time profession (since you have other businesses that will support you!)

    Bottom line - no-one cares what you call it (and try to register Oasis C.com - never going to happen! - you may get it if you pay a few million $$$), no-one cares that you have thought it needs no running costs. What you need to provide is details about the viability of your business idea, why it will work, who your competitors are, and why you will be more successful than your competitors (and as it is an online business, assume that you have both online competitors and local competitors in most countries worldwide.)

    Asking for investors is totally premature at the moment.

    I am always looking for a good investment. I am able to invest in the right business idea, but I need to be convinced by a great proposal, great idea, and convinced that I will make a lot of money in the process. Banks and other investors will be the same!

    My offer still stands. If you feel your business idea is worthwhile, and you want to investigate it further, then PM me. I never charge for the first meeting, during which we see if there is any scope to work together. (OK, you probably have to buy me a Starbucks Coffee in exchange for about an hour of discussions)

    The ball is in your court!

    David


  3. #13

    My tip:

    You said you can fund it from your other income, why not do that for the beginning, and start to grow it from your home like you said?

    Once you can see it start to actually work, if you then need funding to grow, that is the time to write a business plan. It is likely your actual plan will change many times during this early start up stage.
    If you are funding it yourself during the early days, you don't need to write a business plan, unless you want to read it yourself.

    Only use other people's money if you have to (and if they are willing to give it you). The less money you borrow, the less you have to repay (or the more of the business you own).


  4. #14

    Join Date
    May 2011
    Posts
    9

    Hi guys, I also need to write a business plan and I do need to do it now before I start the business. Reason being that I need to apply for the investment visa so that I can stay and start to run the business. This means I have to submit the business plan before I can even get the visa to be able to start running the business.

    To be more specific, the business will involve teaching music and supply bands to venues. I already have musicians and band projects at my disposal. The other thing is that musically, I can offer a lot that nobody else in Hong Kong can currently. On the downside, I would assume musical ability and creativity is not likely to be something that the immigration department consider a valuable trait. It seems that they only care about academic qualifications and things relating to business and finance.

    So my problem is that I need to find the best way to present it in order to successfully obtain the visa and start running my business. However I am not sure exactly what I will need in terms of a business plan (and in terms of the way in which I present the business) to satisfy them.

    If anyone can help with this or give some insight in terms of the best way to go about it I would appreciate it a lot.

    PS - Musically I can do a lot in Hong Kong and there is a lot of potential opportunity. But I don't have a permanent ID, so I need a visa to be able to reside permanently. This is why I thought going the investment visa route was the best (starting with opening the above described business), since at the moment I cannot quickly get any work with a company that will sponsor me to apply for the visa.