Building Quality Financial Projections

Donovan Wadholm — Wed, 16 Jul 2008 11:02:43 -0400

Probably one of the most uncomfortable things a first time entrepreneur has to attempt is their first set of financial projections. Frequently I hear the following:

Fast Talk Response -

Donovan Wadholm — Tue, 17 Jun 2008 23:22:52 -0400

A segway is not a practical alternative to a motor vehicle in most situations. When you have to tote three kids off to school you need a car...or at least a golf cart. Speaking of golf carts, Global Electric Motorcars makes a street legal electric vehicle that can tote up to six passengers and can be enclosed. Now if only they were suitable for North Dakota Winters.

If it is any consolation, I have taken to dropping off my kids at daycare, which is about 1 mile away and then biking the five miles to work instead.

GEM site: http://www.gemcar.com/

Comment on Node ant

Donovan Wadholm — Mon, 16 Jun 2008 12:08:32 -0400

While I am not an American Express card holder I am currently a lender on Kiva's website. I find it very rewarding to be able to pick your micropreneur and track their success in repaying the loan. Then loan it out again!

“The Only Thing We Have To Fear…”

Donovan Wadholm — Mon, 16 Jun 2008 11:44:18 -0400

I grow tired of hearing the opinion that business plans are not a necessary component of starting a business. In Mike Michalowicz’s blog post Business Plans are OUT! Here’s the New Way… he expounds on the virtues of the “Three Sheet Strategy” in lieu of a business plan.

In a nut shell the “Three Sheets” are:

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Donovan Wadholm — Mon, 16 Jun 2008 11:36:15 -0400

Both are effective but for very different purposes.

I find facebook is handy for keeping up in my personal life while LinkedIn works better for my professional life.

Being an entrepreneur I haven't used it for job hunting.

“Free Money to Pay Your Bills!” Or Maybe Not (Part 2)

Donovan Wadholm — Thu, 29 May 2008 21:47:37 -0400

In Free Money to Pay Your Bills! Or Maybe Not Part 1 we discovered how Matthew Lesko (and others) use word play and semantics to get you to buy their books believing you will obtain riches on someone else’s dime. In Part II we will discuss what you really are buying when you purchase one of these grant guides.

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Donovan Wadholm — Sat, 24 May 2008 21:31:42 -0400

I wrote a long reply and then lost it cause I wasn't logged in. Here it is again in summary.

Up here in ND there is less of a conscienceness about social entrepreneurship & environmentalism. I think it is because there is an abundance of clean air, clean water and resources. For centuries we have lived off the land, we have scads of coal and some of the most abundant stripper oil wells in the US.

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Donovan Wadholm — Tue, 20 May 2008 15:44:53 -0400

Oops...typo

www.DIYBizPlan.com

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Donovan Wadholm — Tue, 20 May 2008 15:44:02 -0400

Hi All

My name is Donovan Wadholm. I own a couple of small companies including a pizza restaurant and a website/business plan software company www.diybizpaln.com I blog about small business issues at www.mrbizplan.com I am also a business consultant and a college instructor in Finance and Entrepreneurship.

I love to talk anything with small/micro business, website development, eCommerce, social entrepreneurship and real estate (I am also a licensed Realtor and real estate investor).

“Free Money to Pay Your Bills!” Or Maybe Not (Part 1)

Donovan Wadholm — Tue, 20 May 2008 15:32:07 -0400

Mathew Lesko is my nemesis.

You know the crazy guy on late night infomercials prancing around in his question mark suit screaming about “Free” money to pay your bills…or to buy something…or to start a business?

For years now this guy has made a fortune selling publications that are full of information that is free and available to the public. There is nothing inherently wrong with charging for the convenience and reprinting cost of information that would have taken considerable time to gather and publish…that is not where I take issue.