Business Planning

Business Planning


Would you give a brief introduction of
yourself and your operation? My name is Jim Travis, I farm tree fruits
in Southern Adams County with my son Mike. We grow wine grapes, Chardonnay and
Vidal, and we also grow organic apples peaches and pears. Why did you write a
business plan? I had never had a business before and so it really was a
framework for my son and I’d put down on paper and discuss what we wanted to do
first and how we thought we might do that but also then to work out the
expenses and and how it actually fund the operation and also you know what
kind of profits we might make or expect and then just how those things would
work out. How did you use your business plan? As I said we use it first to develop our
idea on what the business would be, how we would operate it, how we would fund it, was
it financially feasible, but then we also use that then to take it to several
funding agencies, banks and some others, and try to get the funding that
we would need, we bought land, equipment, trees, and posts and wire
and all those things so it it supported our ideas and thoughts to others as we
conveyed them. Do you regularly update your plan? Yes, we make plans on a
five-year basis but they’re sort of continually being evaluated, surprisingly
the pet plans were making on a five-year bases are actually pretty good and
pretty accurate and and since we took a lot of time to work out details of how
much it would cost and what we would make they are pretty close so they’ve given
us an idea of actually we’re we’re going and what it’ll take to get to that next
level, so yes we use five-year business plans and adapt them as we need to but
that’s worked out well. So you do still consult your plan? Oh yes
in fact when my son and I are making plans or deciding to do something else, so we’re
gonna maybe think about a different direction we actually look at the plan, think
through the plan about how that works because we know we spent so much time
on the plan, it’s a real framework helps to direct the business even if we
decide to make some minor changes. Is there anything else you would like to add concerning
business planning? Well I think it’s a really good way to
communicate, especially if you’re working with somebody else but even even to
yourself just to work out what you want to do exactly, how to do it because when you
get into the business its details, and its specific, and you can’t just have a
lot of gray lines there’s black and white on what your gonna do it how much it’s
going to cost so I think a plan helps you a lot in thinking through and being
successful in the end really, on the business you’re gonna start. Thank you! You’re welcome

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