What Clients Can Expect During the Business Planning Process
Initial Meeting
If you have chosen to work with Karen Rankin-Magee and Self Employment Specialists you can expect expert consultation, prompt response to your questions, and a commitment to quality service. Karen has worked with hundreds of clients with dreams of starting their own business and becoming self-sufficient through business ownership. Her wealth of experience, knowledge and education are at your disposal to develop a complete, thorough, viable business plan.
Once a referral and all the documentation is received from VR, an initial meeting is scheduled at the VR office with you, your counselor, Karen and anyone else you would like to have involved in your business planning. The purpose of this meeting is to go over VR’s business planning process, discuss your business idea, what you have already been working on with your business idea, your disability and how it may potentially impact your business.
Business Planning
VR has established several benchmarks for clients and CBTACs to work through in preparation of a business plan. These are listed below. With each module, your CBTAC will provide a report to your counselor documenting specific completed criteria for that benchmark. The next benchmark is not begun until the counselor authorizes it.
Benchmark 1: Initial Self-Employment Exploration Meeting
Benchmark 2: Business Concept Development
Benchmark 3: Market Research and Benefits Analysis
Benchmark 4: Marketing Plan and Business Financials
Benchmark 5: Business Plan Development
Benchmark 6: Completed Business Plan
During the business planning process, Karen will guide you in researching your business concept, obtaining necessary quotes and gathering all information necessary for your business plan. You and/or your support team will be responsible for performing the research (with Karen’s guidance), making decisions and responding in a timely manner. The business plan is yours and thus represents your ideas.
Once the research has been performed, the decisions have been made, and the quotes have been obtained, Karen will write the narrative and prepare the extensive financial projections required for the business plan. Additionally, Karen will prepare an implementation plan to be used by you and VR to get your business off the ground.
Business Plan Presentation
This is the most exciting step in the process. This is where you present your business plan in hopes of gaining approval. Most people are very nervous about this step. Karen will coach you on the presentation and will be there with you for support and to assist you as necessary.
Conclusion
Self-employment is not the best fit for everyone and it is not a quick fix for immediate employment or income needs. When working with Self Employment Specialists, the business planning process is much like a training course in business, finance, marketing, operations and more. The average length of time a VR client spends working on their business plan is 12 months. Add another 2 months for plan approval, 3 months for purchasing and 2 months for business set up and most clients will be open for business in about one and a half years. This timeframe is based on an average of all VR clients that Karen has worked with. Your business plan may be completed in less time or it may be require more time based on your individual needs, situation, and circumstances that arise during the process.
If you have chosen to work with Karen Rankin-Magee and Self Employment Specialists you can expect expert consultation, prompt response to your questions, and a commitment to quality service. Karen has worked with hundreds of clients with dreams of starting their own business and becoming self-sufficient through business ownership. Her wealth of experience, knowledge and education are at your disposal to develop a complete, thorough, viable business plan.
Once a referral and all the documentation is received from VR, an initial meeting is scheduled at the VR office with you, your counselor, Karen and anyone else you would like to have involved in your business planning. The purpose of this meeting is to go over VR’s business planning process, discuss your business idea, what you have already been working on with your business idea, your disability and how it may potentially impact your business.
Business Planning
VR has established several benchmarks for clients and CBTACs to work through in preparation of a business plan. These are listed below. With each module, your CBTAC will provide a report to your counselor documenting specific completed criteria for that benchmark. The next benchmark is not begun until the counselor authorizes it.
Benchmark 1: Initial Self-Employment Exploration Meeting
Benchmark 2: Business Concept Development
Benchmark 3: Market Research and Benefits Analysis
Benchmark 4: Marketing Plan and Business Financials
Benchmark 5: Business Plan Development
Benchmark 6: Completed Business Plan
During the business planning process, Karen will guide you in researching your business concept, obtaining necessary quotes and gathering all information necessary for your business plan. You and/or your support team will be responsible for performing the research (with Karen’s guidance), making decisions and responding in a timely manner. The business plan is yours and thus represents your ideas.
Once the research has been performed, the decisions have been made, and the quotes have been obtained, Karen will write the narrative and prepare the extensive financial projections required for the business plan. Additionally, Karen will prepare an implementation plan to be used by you and VR to get your business off the ground.
Business Plan Presentation
This is the most exciting step in the process. This is where you present your business plan in hopes of gaining approval. Most people are very nervous about this step. Karen will coach you on the presentation and will be there with you for support and to assist you as necessary.
Conclusion
Self-employment is not the best fit for everyone and it is not a quick fix for immediate employment or income needs. When working with Self Employment Specialists, the business planning process is much like a training course in business, finance, marketing, operations and more. The average length of time a VR client spends working on their business plan is 12 months. Add another 2 months for plan approval, 3 months for purchasing and 2 months for business set up and most clients will be open for business in about one and a half years. This timeframe is based on an average of all VR clients that Karen has worked with. Your business plan may be completed in less time or it may be require more time based on your individual needs, situation, and circumstances that arise during the process.
If you’re ready for an exciting challenge and are committed to the process, timeframe and work involved, call 941-355-3474 or email Karen to discuss your specific business and needs today!