Decide on goals. How big do you want to be? Do you want to run a "Mom and Pop" shop or do you want to have a large operation? How much money do you want to make? How fast do you want to grow?
Step Two
Put together a business plan. We call our annual business plan our "Operating Manual." It is not a document we prepare for our bankers, then store for a year.
Our manual is a document we use every day. Once a week, the management team of our company gets together and reviews our operating results compared to the manual. A copy of the manual, written by our Kansas City branch, can be found in the handbook.
The Manual/Business Plan generally describes the individual duties of all of the employees and how all those employees work together toward a common goal - selling water and collecting revenues.
Step Three
Create a serious budget. This is the reality check. Can I reach my goals through the business plan? Bottom line - If I run my business as I've described in the business plan will I make money? Do I have the capital necessary to reach my goals?
A copy of a balance sheet and income statement form we use is available in the handbook as a starting point. Individuals and companies have different resources and goals, so please be aware that the categories in the financial statements may vary depending on your personal goals. Our advice - be critical.
