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When I was a banker, I met with hundreds of entrepreneurs. It was not uncommon when I asked how much they needed to fund their new business, to hear, “How much will you give me?”
This usually meant they had no plan. Kent was different. He knew exactly how much it was going to cost to build his manufacturing business, when he was going to hire staff, and how much he wanted to borrow. His plan gave me confidence that he might succeed, and he did.
Proverbs 21:5 teaches, “The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty.”
If you’re starting a new business, develop a plan that answers the question, “How will you fund, staff, build and maintain your idea?”
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