Plan first; money second
What the authors of “What Do Small Businesses Do?” miss is that for each non-innovative, low-risk small business that is started, at least one person becomes employed.
Instead of always swinging for the fences (and striking out) by supporting only beyond-cutting-edge entrepreneurs, let’s keep scoring on base-hits with mom & pop businesses and win the game.
How many successful small businesses loans could have been funded with the half-billion dollars that went down the Solyndra drain? My guess is that Solyndra did not have a solid enough business plan.
Fred Jacobsen is a retired credit executive, Vietnam vet and founder of nonprofit BootsToBootstrapping.org which offers free business planning workshops for war veterans in the Tampa, Florida area.
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