The COVID 19 pandemic has given most non-essential workers time off from the usual grind. In those quiet hours some may be thinking of how to make a fresh start when it’s all over. I’ll share this for that one person out there who may need to hear it. If you happen to know who that person is, please share it with them.
Someone recently asked me what the first steps were to making Evansville Culinary Tours a real business. My short answer was that I wrote a simple business plan based on hopeful predictions with reasonable outcomes. After considerable tweaking the good outweighed the bad so I moved forward with the project.
A business plan is nothing more than a list of relevant questions with hopeful answers based on an idea. In my case, the idea was to get me out of the kitchen more often, and to promote small restaurants by bringing groups of people in to taste the food and meet the chefs, managers and restaurant staff. Maybe even to teach a bit about food tips and a smattering of local history. An added bonus: the new friendships formed with regular attenders. I like to call them “foodistas”.
Wasting no time on small talk, my friend asked if I was afraid the tours would fail? Afraid? Not exactly. I got the fear of failure out of my system when I started my business as a personal chef 30 years ago, and again 20 years later when I started speaking publicly about the benefits of healthy cooking. At the time, those were giant leaps for me and, yes, they triggered fears. Big scary fears. The food tours were so much more fun, easy and natural, so I just jumped in.
To further answer her question, I wasn't even 25% sure the tours would be take with the general public, but was willing to stick my neck out and give it a shot anyway.
Most of the answers on the business plan bolstered my confidence enough to let me imagine it could work. Since the initial cash outlay was going to be under $200 I decided to give it a try. How many other businesses can you think of that can start out on such a tiny little shoestring?
Become an expert at something you love to do and GO ALL IN! Look around at the competition. Do you want to be one of many, or THE ONE?
I know someone who trains and races thoroughbred horses. That's not a run-of-the-mill business. Not one started on a shoestring either. But it's what she does and she gives it everything she's got! I often tell her she leads the most interesting life of anyone I know!
Another question my friend asked was the one that keeps most people from ever attempting anything out of the ordinary. She asked, "What do you say to naysayers?" The answer flew out of my mouth swift and sure; “Avoid them! They are wicked, walking poison to anyone wanting to improve themselves. Step away from them and don’t share any of your positive mojo with them. Protect yourself from them in person and quit them on social media.” FYI: These comments have been cleaned up considerably to conceal my true disdain for joy-stealers.
What about a business partner? She thought it would be best to have some one to share the burden of the start up with. Turns out, she was really asking if it was worth the risk of partnering with someone to have someone help deflect the naysayers. I told her again to forget about the naysayers and possibly even the partner. Partners like to throw their two cents in all the time, and then they expect to get their way. I told her deciding whether to have a partner depends on how well she plays with others.
To make a long story short, a very simple business plan can be written on just one sheet of paper — both sides. Nothing fancy, just honest answers to relevant questions so you can focus clearly.
Especially at first, the best business plans change all the time. Mine sure did. Soon it was all marked up, erased, crossed out with lots of additional scribbles in the margins. Looking back I realize these are the telling marks of how my simple business grew from a thought. I still have that ragged list and can easily lose a couple of hours revisiting it.
There are many business plans online to choose from and my list grew from many of them. This is what I used all those years ago. It is plain and simple, just like my two businesses.
A Simple Business Plan:
What is your business idea? Write it out in detail.
How is your service/work/idea performed? Write it out in detail.
Who is your typical paying customer?
What’s your plan to get customers to notice your business and to buy from you?
How much will you charge? Will you bill daily, weekly, monthly?
What makes your business excite people so they want to give you money for it?
What makes you believe your idea can turn into a profitable business?
What will it cost to get started? List all purchases, rentals, hires…
Will you start your business solo, or with a partner?
List your strengths and weaknesses when working alone and with others.
How much income do you expect to make in the first six months?
How does your expected income compare to your startup costs?
How much money do you need to live on while you grow your business?
Where will your personal living expenses come from?
What is your business start date?
It was no big surprise to learn my friend was secretly dreaming of quitting her day job to start her own second act. I hope she does and I wish her well. Once she gets going I hope we get together and she shows me her marked up, messy business plan!