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Business Plan

New Business?

Ever thought about starting your own business? Were you filled with excitement, apprehension, questions? Having just started our new business, Alpine Ridge Insurance Agency, , I would like to share a few comments for those brave individuals who are contemplating stepping into the unknown.

My comments for this post will focus on one primary area of thousands, the Business Plan. A Business Plan is a document that you produce prior to starting a new business. The document is used by prospective investors, bankers, or in our case Insurance Companies to evaluate compatibility. For me our business plan identified areas from Vision, 5 years of income projections, to a marketing strategy. I knew from the start that the business plan would be more than just a historical document produced to meet requirements of a banker, it would be a guiding document during our startup phase and beyond.

Over the past 6 months since we opened our doors we have referred to our business plan over and over again. One example is our business philosophy of Integrity, Service, and Community. When we have been evaluating options or making business decisions we have fallen back on our business philosophy and that has helped us to stay focused on what we have identified as being important. Take community for example. When we are deciding where to spend our time and energy we know we want to be a part of our local community. As a result we are members of the Auburn Chamber of Commerce and the Auburn Rotary and attend local networking meetings. We decided that we would make a contribution to a local nonprofit, Young Life, for identified client referrals. We advertise in the local Auburn Reporter as well as with the Auburn Symphony. In addition to our local advertising we also utilize Social Media with Face Book and Linked-in for example.

If you are thinking of starting that new business make sure you spend the time to create a quality Business Plan. Your Business Plan will be looked at by others and it will pay off both in the short term as well as the long term. Venture into the unknown…

Dave Haynes

Alpine Ridge Insurance Agency, Auburn WA