Business Plan- Starting out

[Byron Scott]

Hey experienced BP members, 

I am trying to do all my due diligence before starting to invest. I listen to the BP podcasts and all of the guest say that I should teach this like a business. So I am starting to put together a business plan. 

What would you all put inside of a business plan if you were starting out? Is there any set investor business plan templates out there? I know my goal is to buy and hold to set up long-term income. Then start fix and flip to build capital. So should I look to put together a "team" of people that I work with and trust like (agents, Plumber, electritions, ect). 

I'm trying to do my best to have all my stuff in order when I approach people to do business. 

[Account Closed]

Hey Byron, say, you're not the former Lakers basketball player are you?!  (Sorry, you probably get that a lot--I couldn't help myself).  Your question is a very insightful one.

I recommend you check out the Business Model Generator book and associated canvas at

http://www.co2partners.com/blog/2011/01/business-m...

The book and canvas go through the various elements in a business and I believe there is  applicability to what you want to do.  I went through this last year when I got back into flipping houses and one of the revelations to come from it were that my "customers" are not really the folks who end up buying my rehabbed house--even though they're the ones paying--but the realtors showing the house.  That led me to structure commissions and take other actions to get their notice.  Work your way through the canvas and you may also discover new ideas.

Best of luck to you, sir!

Vincent