Business Plan

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Jul 26, 2006 3:59 pm

It has been brought to my attention that it may be expected that I have a  business plan for an upcoming interview (makes sense).  Problem is that besides a contact list and activities such as golf and associations I am active in I have no idea what they are going to be looking for.  If someone could please advise me it would be much appreciated.  Also, forgivable draw after 24 mos.....what level of total assets should I expect to need so that I do not have to use any draw...ever...that is the plan?  I can count on about 2mm after that it is going to be all new money.


thanks again!

Jul 26, 2006 5:54 pm

I saw one  one time and it had so many clients investing in mutual fund at $200 /month. So many at $500/month So many doing managed money starting with 100K. Basically it gets you thinking how many clients do I have to get and what amounts to get to $2 million your first year. Seems like more of an exercise to get you thinking in terms of producing these results. If you can see you can achieve type of idea.

Jul 26, 2006 6:14 pm

Microsoft Office Online has a nice tutorial for how to "lay it out". What to start thinking about, etc, what you'd want to say to future investors (or in this case employers). Here is a link -- you may not be able to access it if you do not have microsoft office, PM me if not and I'd be happy to help.


http://office.microsoft.com/en-us/FX011622481033.aspx 


This plan includes what your target markets would be, strategies for marketing to said markets etc. Mission statements etc.

Jul 26, 2006 6:18 pm

Perfect.....thanks for the help.  It is so nice to get the occasional honest answer to an honest question!



thank you both!

Jul 26, 2006 6:24 pm

One more thing.  It was mentioned above that 2mm in first year would be expected.  What are the numbers to get to 100k minimum in 5 years?  I understand that it may depend on the type of products that are sold.  Much of the talk on this board is way over my head so any explanation of what levels you reached in the early days would be appreciated.  If you could spell it out as simple as possible.  Like I said before I have about 2mm that I feel that I can count on (family and close friends)


thanks again!

Jul 26, 2006 6:26 pm

I'm not certain about this, but I would talk to others about it. Be careful about laying out any concrete numbers & timelines. At Edward Jones we had a VERY manipulative and controlling RL, who used these sorts of written documents against you later on.


For example, instead of saying "I intend to earn xxx amount in commission by the end of the year and be up to xxx amount AUM" - say "I intend to work every Saturday for x months and host 2 seminars per month to meet new contacts" or whatever.