Creating our business plan

[Stephen Bianes]

Good afternoon BP family! My team and I are going to form our business plan next week. We’ll be following a real estate template that I came across in the net plus some guidance from multiple books. I’d like to ask if there’s anything that you learned after creating a business plan which you wished you added to it? Any advice or opinions for rookies?

Thank you in advance for your responses 😃

[Aaron K.]

@Stephen Bianes don't get too caught up with the business plan, the most important thing is that you and whatever partners you have are on the same page in terms of what numbers you are willing to accept and what strategy you are adopting, and when people get paid, or how they get their money back out.  I'd spend 10x more time on a partnership agreement than I would on a business plan, as it is going to have much more of an impact.  Plus a lot of business plans have a lot of unnecessary fluff packed into them.