Advice on Planning a Business - Tilted Forum Project Discussion Community

kangaeru · 05-28-2005, 05:18 PM

I am looking to start my own business. I don't mean some family daycare or arts and crafts store I run out of my house--my idea deals with international importing/exporting, specifically with asia.

My business will cover a wide variety of products, however, at the beginning, I want to work on only 1 product to a) see if the demand it creates is what I think it will be, and b) to establish systems that are tried and true and work well enough that I can apply the experiences to much broader markets.

I know people in venture capital firms who I can go to with this idea, but I need to figure out how to make a credible business plan. This business would act as a 'middle-man' so to speak--I would be purchasing products in the US, wholesale, and selling them to wholesalers in Asia, so that alone takes out a LOT of complication of starting a company up, because I've looked into it and retail is a pain in the ass.

I've done market research in the areas I'm looking to get into, and I have a lot of data as well as first hand experience living in Japan to back up my claims about why the venture will be successful. However, I have no idea how I would figure out exact costs (I know the shipping cost from San Francisco to Tokyo for the item I plan to start off with, but I have no idea where I would begin to find out how I would figure out the volume, therefore I can't estimate the cost).

I apologize for being vague about this busniess, but, as this is an very widely read internet forum, I've got to leave a certain level of ambiguity up in the air. I am trying to find people I already have contacts with to give me advice also--but because I know some incredibly savvy and world travelled people psot here as well, I figured you never know where you're going to find a gem of information, so here I am.

So anyways to reiterate...I have market research reports backing up my claims that a market exists for these products, and I have first hand experience living in Asia which I can further leverage to raise the credibility of my ideas. I do not, however, have an exact blue print of exactly who I am going to buy my products from wholesale, and who I am going to sell them to, or any of the associated costs. I need to know if I need these things to present a plausible business plan, and if yes / no, what pertinent information I need to present to an investor to get them to invest money in me.

Thanks in advance =)

rubicon · 06-01-2005, 02:48 PM

Quote:

Originally Posted by kangaeru

I know people in venture capital firms who I can go to with this idea, but I need to figure out how to make a credible business plan.

Why don't you ask them this very question? As for making a credible business plan, there are plenty of books and even software to help you. You might consider getting a mentor or consultant to review it - the local Chamber probably has a SCORE group you can tap into.

Quote:

I've done market research in the areas I'm looking to get into, and I have a lot of data as well as first hand experience living in Japan to back up my claims about why the venture will be successful. However, I have no idea how I would figure out exact costs (I know the shipping cost from San Francisco to Tokyo for the item I plan to start off with, but I have no idea where I would begin to find out how I would figure out the volume, therefore I can't estimate the cost).

Business, especially products, is all about the numbers. You're going to need to determine these numbers.

Quote:

I apologize for being vague about this busniess, but, as this is an very widely read internet forum, I've got to leave a certain level of ambiguity up in the air.

Chances are no one knows the products better than you, therefore you have little to worry about. If they did, they're probably already doing it, don't have the connnections you do, or have any number of hurdles to get through which you're also facing.

Quote:

I do not, however, have an exact blue print of exactly who I am going to buy my products from wholesale, and who I am going to sell them to, or any of the associated costs. I need to know if I need these things to present a plausible business plan, and if yes / no, what pertinent information I need to present to an investor to get them to invest money in me.

You've done a great job of convincing me NOT to invest my money with you. Of course you need to know these things. Let me rephrase:

kangaeru, I'd like you to invest $30,000 in my business. I have a great widget to sell in Asia but I'm not sure who I'll buy it from, who my customer is, or how to ship it. So, will you give me $30,000 and I promise I'll do my best to figure it out?

I think you know exactly what needs to be done. There is no easy way of making money or getting people to invest in you. You need a plan and prove that you're capable of getting it done.

gar1976 · 06-01-2005, 07:58 PM

I wouldn't advise going with anyone for a business plan. I'm an experienced CPA, and I refer those things out to someone I know has plenty of experience and know-how in the field, because you only get one shot with any investor - better make it count.

Plan on saving 3-5k to spend on this hummer, and they can walk you through the presentation. The numbers, though, you will need to come up with on your own.

05-28-2005, 05:18 PM	#1 (permalink)
kangaeru Crazy Location: on the road to where I want to be...	Advice on Planning a Business I am looking to start my own business. I don't mean some family daycare or arts and crafts store I run out of my house--my idea deals with international importing/exporting, specifically with asia. My business will cover a wide variety of products, however, at the beginning, I want to work on only 1 product to a) see if the demand it creates is what I think it will be, and b) to establish systems that are tried and true and work well enough that I can apply the experiences to much broader markets. I know people in venture capital firms who I can go to with this idea, but I need to figure out how to make a credible business plan. This business would act as a 'middle-man' so to speak--I would be purchasing products in the US, wholesale, and selling them to wholesalers in Asia, so that alone takes out a LOT of complication of starting a company up, because I've looked into it and retail is a pain in the ass. I've done market research in the areas I'm looking to get into, and I have a lot of data as well as first hand experience living in Japan to back up my claims about why the venture will be successful. However, I have no idea how I would figure out exact costs (I know the shipping cost from San Francisco to Tokyo for the item I plan to start off with, but I have no idea where I would begin to find out how I would figure out the volume, therefore I can't estimate the cost). I apologize for being vague about this busniess, but, as this is an very widely read internet forum, I've got to leave a certain level of ambiguity up in the air. I am trying to find people I already have contacts with to give me advice also--but because I know some incredibly savvy and world travelled people psot here as well, I figured you never know where you're going to find a gem of information, so here I am. So anyways to reiterate...I have market research reports backing up my claims that a market exists for these products, and I have first hand experience living in Asia which I can further leverage to raise the credibility of my ideas. I do not, however, have an exact blue print of exactly who I am going to buy my products from wholesale, and who I am going to sell them to, or any of the associated costs. I need to know if I need these things to present a plausible business plan, and if yes / no, what pertinent information I need to present to an investor to get them to invest money in me. Thanks in advance =)

06-01-2005, 07:58 PM	#3 (permalink)
gar1976 Custom User Title Location: Lurking. Under the desk.	I wouldn't advise going with anyone for a business plan. I'm an experienced CPA, and I refer those things out to someone I know has plenty of experience and know-how in the field, because you only get one shot with any investor - better make it count. Plan on saving 3-5k to spend on this hummer, and they can walk you through the presentation. The numbers, though, you will need to come up with on your own. __________________ Blistex, in regards to crappy games - They made pong look like a story driven RPG with a dynamic campaign.