I wanted to get a home business going but I needed extra finance. I had spoken to friends and relatives but they either didn't have the money to spare or they didn't have enough confidence in my ability to repay the money.

Undaunted, I decided to contact my bank manager. I was aware that the first question he would ask would be : ?Can I see your business plan??

What exactly is a business plan? What does it need to contain?

A business plan is simply a list of answers to questions that are sure to be asked about you and your proposed business. You will not get outside funding unless you have the answers, It is only natural that the people giving you the funding want to know that you have thought your venture through completely. Considered it from every angle, are ready to get going and will have every chance of paying the money back on time.

Your business plan should include? A description of your service or product. Just what is it that you plan to do and how you intend to do it. What experience you have in the world of commerce and in this particular sphere of business.

Who will be your customers? What age group are you aiming at? (If any.) What is the strength of your opposition? What makes your business different from other businesses in your market? You need to explain what makes your believe that you can compete successfully. What is your special edge?

You will need a list of your proposed expenses. Including start up expenses and any equipment that you will need before you can get up and running. What ongoing expenses such as staff costs and supplies will be required, to enable you to start earning any money? How long will it be before the money starts coming in?

How much will you need? For how long you will need the loan? Have you any other income or will you need to live off the loan until you get started? What are your daily expenses and can you reduce them?

What are your assets? The bank will require some sort of security. If you have property that is paid for you should have little difficulty obtaining the finance. Failing that, A life insurance policy that you have had for some years may be enough to get you the O/K.

If all your efforts to obtain outside finance fail, What are you going to do? Will you give up and go back to the old nine to five routine?

Or will you say, ?You have had your chance to earn some money from me. That's your hard luck. I will do it without your help. It will take a little longer, but I am determined to get there just the same. Even if I have to totally rethink my plans and concentrate on a different venture altogether. I will succeed and nothing and no-one is going to stop me.

I am going to run my own business

Believe me, With that attitude, nothing can stop you..

That is what happened to me. The bank gave me a resounding ?NO?

I was not put off for the lack of working capital. I had a computer with an internet connection I was half way there. The simplest way to get going was to join a few affiliate programs. I chose ones that had been in business for a few years that had plenty of backup services. They gave me all the help I wouldl ever need. My only added expense was for my advertising budget. I staredt small and worked my way up. As soon as I started selling, I ploughed as much as I could afford back into more advertising.

It is not the amount of money that you spend on advertising that matters. It is the quality of the advertising that brings in the money.

I did well to take the advice of the people who were running the affiliate programs. They knew what they were doing. They only make money when their affiliates sell their goods or services. They have a vested interest in you to ensure that you succeed.

Walk. Don't Run. The one who works smart is the one most likely to win.

Don't let anyone put you off. You can do it.

Copyright 2006 Homer Farey