How to Write a Business Plan Seminar

Which Jack-O'-Lantern are you?

How to Write a Business Plan Fee: $ 30.00 Payment will be made at the workshop. Checks or cash preferred. Thursday, November 07, 2013 9:00 AM to 12:00 PM  This is a hands-on workshop that will focus on Marketing, Management, and Financial planning for your business. Participants will complete a rough draft of the narrative portion of their business plan during the workshop. You will receive a 4 GB Flash Drive with the Business Plan Workbook in Word format. Reservations are required and this workshop is limited to 15 people. To get here take the GAP Blvd entrance to Volunteer State Community College. Then take your second entrance on the right into the parking lot and the Betty Gibson Building will be right in front of you. Register for this event online

November Seminars

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday, November 5, 1480 Nashville Pike, Gallatin, TN in the Betty Gibson Hall, Conf Room 104. Registration is required. Reserve online. www.tsbdc.org. Free.

How to Write a Business Plan workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-12 p.m. Thursday, November 7, 1480 Nashville Pike, Gallatin, TN in the Betty Gibson Hall, Conf Room 104. Registration is required. Reserve online. www.tsbdc.org. $30 (payable at the workshop.)

Health Care Reform and your Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 3-4 p.m. Tuesday, November 19, 1480 Nashville Pike, Gallatin, TN in the Betty Gibson Hall, Conf Room 104. Registration is required. Reserve online. www.tsbdc.org. Free


QuickBooks Introduction for Small Businesses workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-12 p.m. Tuesday, December 3, 1480 Nashville Pike, Gallatin, TN in the Ramer Administrative Building, Room 175. Registration is required. Reserve online. www.tsbdc.org. $25 (payable at the workshop.) 

Recycling Company named 2013 Rising Star

(Left to Right) Rising Star winners, Amy and Jason DiStefano,
along with Vol State Pres. Dr. Jerry Faulkner
and TSBDC Director Chalres Alexander 

The Tennessee Small Business Development Center (TSBDC) at Volunteer State Community College has awarded Green Village Recycling of Hendersonville the 2013 Rising Star award. The Rising Star award goes to a small business that has had great success utilizing TSBDC resources. Owners Jason and Amy DiStefano worked with TSBDC Director Charles Alexander to develop a business plan when the venture was just an idea. Today, they have 500 customers in six counties.

“Four years ago Jason came to one of our workshops on starting a small business,” said Alexander. “Jason was telling me about this niche, this idea in his head.”

“Charles was the first person to read my business plan cover to cover,” said Jason DiStefano. “A lot of work has gone into this business and we could not have done it without the TSBDC.”

Green Village Recycling handles business and residential recycling needs, taking more than 400,000 pounds of material out of the refuse stream last year. They have a target of a million pounds of recycling for this year.

In 2012, the TSBDC at Vol State worked with 213 small businesses and clients, offering free and inexpensive classes, and counseling. In all, the projects raised $2.26 million in capital and created or retained 84 jobs. For more information and a list of classes contact Charles Alexander at Charles.alexander@volstate.edu or call 615-230-4780.

Personal Branding

There are a thousand people that want to talk to you about personal branding.  Seth Godin is one of the best though.

Build Your Business to Sell; Breaking Bad Style

*Editor's Note

There are no real spoilers here.  If you are catching up on Breaking Bad through Netflix, you can still read the article.  Or at least pretend to read it and tell me how great it was later.  

Also, I do not endorse illegal drug activity, lying to your family, or even karaoke.

Yes, the Breaking Bad hangover has officially begun.  Everyone will have to go back to watching bad reality television and stop going on and on to your friends how this was the best show ever.  Ever!

Now that I have that out of the way, one of the biggest issues I find with many entrepreneurs is that their business is also their retirement plan (I promise there is a segway coming.) This would be an okay plan if your business is in a position to be sold.  That's rarely the case. In fact, very few small businesses are ever sold.  

Let's take a look at a few of the reasons with Breaking Bad examples:

• You must have a business that can survive without you

Initially, Walter White’s goal was to generate enough money for his family to live on when he was gone.  However, there was no real end game in mind.  So without the perfect chemist to create the signature product to sell, there was no business.  It would have been just an old RV and one goofy employee.

If you leave and the business flounders, there is no reason for someone to purchase it from you. 

Create systematic processes that can create income, without you constantly working in it.

• The business does not show a profit

Skyler White was in charge of making sure the business used all of its “tax loopholes.”  And by loopholes, I mean money laundering. 

I’m often told by business owners that their business is profitable, however, their tax returns tell a different story.  It’s even a source of pride that they twist the IRS tax code like a pretzel.  While I’m all for keeping as much of your hard earned money as possible, there will always be a time to pay the piper.  If you are not showing a profit, you may not be paying taxes. And, you may not be selling your business.  Even if someone is willing to buy the business because of a wink and nod that profit is really there, the bank may not be willing to accept the wink and nod as collateral.

Be willing to show a profit on your tax returns with depreciation and owner’s draw as add-backs.

• Having the wrong team

Jesse was a drug addict, Saul was shady, and Todd was scary.  And that is not even bringing Badger and Skinny Pete into the employee equation.  This is not a team of people you want to hire.  Or, even be with in the same room.

If you have employees that you are not even sure of, you can bet a potential buyer will feel the same way.

Make sure you have good employees, clear job descriptions, and even an organization chart.  A potential buyer wants a smooth operation where they do not have to completely re-train or retool the staff.

Remember, you are not simply in the money business; you are in the empire business. Have an A-1 Day!