We had so much fun talking about business plans last week that we only got about halfway through what we wanted to cover. This week we shared the rest of the story when it comes to business plans.
Most owners start and fund the initial growth of their business through a combination of their own personal savings, borrowing from family and friends, and maxing out their credit cards. As those sources of money dwindle or become tapped out, the growth of the business can often be stifled by this lack of capital. It’s at this point that many business owners approach alternative money sources (e.g. bankers or investors)