Starting a business with no money! What’s so funny?

A great article in the Wall Street Journal blog, “Can You Open a Restaurant with No Money?“. Some of the points can be used for starting any business. When you get to the part that says, “Craft a well-written business plan that clearly explains your innovative concept while also communicating your passion, abilities and work ethic. Define your target market, your competition, your marketing strategy – and of course, your start-up costs.” — read it twice, read it again, and remember that this is important whether you have no money or lots of it. Don’t get scared about the ‘well-written’ part — this is not an English Composition assignment, it is communicating that your business plan is clear to you and that you can communicate it to others, whether funders or your customers.

About Daryl Phillips, CEcD

I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS). Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee. I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers. I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
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