Posted by Melody on 7/25/05 1:46am
Msg #54424

You need a business plan

I have recently become aware that many a greenie thinks she can get into this business without writing a thorough business plan.

Not so, Mon Cher.
Being an NSA is not the equivalent of having a newspaper route. This is a real business. Treat it as such: you are now the owner of a small professional service business.

Writing a comprehensive business plan forces a gal to review all aspects of starting a small business. Marketing, competition, necessary equipment, cash flow projection, resources - everything.
I would NEVER start a new business without writing a detailed business plan.

Many excellent government agencies offer free consultations to small business owners. They will not talk to you unless you present them with a well-written business plan.

If you hope to get a bank or government loan to help you get started, you need a business plan. Lenders will not grant you an appointment without one.

www.SBA.gov has an excellent guide for writing a solid business plan.

Monday is Last Day to Sign day. Tuesday is Coma day. Wednesday is Write Your Business Plan day.

Reply by Patricia Gonzalez on 7/25/05 8:37am
Msg #54449

Thanks. That's great advice.

Reply by Linda/CA on 7/25/05 9:16am
Msg #54458

Can't wait for Coma day....

Reply by LawrenceOK on 7/25/05 9:38am
Msg #54463

Excellent advice Melody.

Reply by BeccaWI on 7/25/05 10:06am
Msg #54470

Is today really the last day to sign for the month? I thought it was Thursday! I am still trying to figure it out! If that is the case, that would explain why my phone rang off the hook on saturday while I had the stomach flu, slow month!

Reply by jojo_MN on 7/25/05 6:27pm
Msg #54565

If you take the last day of the month and subtract four business days, the fourth day is the "last day to sign". If the last day of the month is Friday (the funding day), subtract four days. Monday would be the last day to sign. (i.e. Monday=date signed, Tuesday-Wednesday-Thursday=three day rescission period (midnight 3rd day), Friday=funding day). Therefor; the last "day to sign" would be Monday. If the last day of the month falls on a Sunday or Monday, the last day to sign would be Wednesday.

Reply by PAW_Fl on 7/25/05 6:39pm
Msg #54568

>>> If the last day of the month falls on a Sunday or Monday, the last day to sign would be Wednesday. <<<

Oops. Not so. If the last day of the month, such as this month, falls on Sunday, the "LSD" (Last Signing Date) is the preceding Monday,so funding can happen on Friday, the last banking day in the month.

If the last day of the month falls on a Monday, and that day is NOT a holiday, then the LSD is the preceding Wednesday, as the 3-day rescission would end at midnight Saturday, funding can be on the following Monday and still be within the same month.

(All the above assumes no intervening holidays between LSD and funding date.)

Reply by jojo_MN on 7/25/05 7:21pm
Msg #54575

Sorry, should have clarified---if the lender is open on Saturday, what I said is true. Some of the lenders I work for are open on Saturday (such as Beneficial) so will still fund this week if it closes tomorrow. Thanks, Paw!

Reply by PAW_Fl on 7/25/05 9:23pm
Msg #54598

That is true. IF the funding can take place on a Saturday, then LSD is Tuesday, not Wednesday (as you stated).

Reply by TitleGalCA on 7/25/05 7:41pm
Msg #54584

Wow - great information here. If Harry were smart, he'd catalog all these topics, cross reference them, and create "How to become a NSA - by NSA's" and sell them to Newbie's - easier than research, just look up the topic and poof! an answer.

(I can't believe I posted this - Harry, how 'bout a finders fee for the idea?)