wednday:2 Business Identification
wednday:3 Purpose
wednday:4 Description of Business
wednday:5 Your Market Research
wednday:6 Competition
wednday:7 Management
wednday:8 Personnel
wednday:9 Location
wednday:10 Your Market Strategy
wednday:11 Financial Information
wednday:11.1 Capital Requirement
wednday:11.2 Depreciable Assets
wednday:11.3 Balance Sheet
wednday:11.4 Break Even Analysis
wednday:11.5 Projected Income Statements
wednday:11.6 Cash Flow Projection and Analysis
wednday:12 Keeping Records
wednday:12 cont. Executive Summary and Misc. Checklist
wednday:Even though the steps above may seem very long and boring to do in the long run it will be worth the effort
wednday:A business plan is the heart and soul of your business and will take some time work on.  I recommend at least three months to invest in the time and energy to do your research and develop your plan
wednday:For example in step 2 - Business Identification - deals with the naming of your business
raj:How do you decide if the Wedding Consultant business is even the right thing to do?  Will the plan tell you that?
wednday:This step really requires some time think about because this will be your business identification.  You must do your research because you wouldn't want to pick a negative name that reminds people of bad business or worse.
wednday:I think the plan will give you a very good idea if this business is you or not.  As you can see weddings are not just about planning a party or a hobby that you do in your spare time.
wednday:Any questions?
Jillian6:What are some of the best sources to use when doing market research?
wednday:good question, but before you do your market research you must know your market.  Have you identified your market?  I ask because your research will depend on who is your market.
shay:As far as competition, how can you compete with the sista's that do weddings in the church for free
Jillian6:I have identified my market to be the Baltimore/Washington Metropolitan area?
wednday:For example if you deal with a market lets say that are between the ages of 25-30, professional couples - automatically you want to do some research on-line and the library.
Jillian6:Thank you.
wednday:When you say I've identified my market in the Baltimore/Washington Metropolitan you are off to a good start geographically but you need to research the culture further.
elite:What is the best way to get the perfect business name?
wednday:Ex., income median, entertainment venues, lifestyles, etc.
wednday:creativity is the best way to get the perfect business name
wednday:Hey Shay - you just have to make sure your weddings are flawless, on-time, creative and elegant, need I say more?  The bottom line you pay for what you get.
shay:i hear you thanks!
wednday:Jillian6 - are you on the right track now?
Jillian6:Yes, I am. 
wednday:1sharba - hello do you have any questions?
Jillian6:I missed the first Chat session.  What was the topic of discussion?
wednday:How to get started.
wednday:Elite any questions?
Jillian6: Thank you.  Are you planning on having a discussion on how to price your services in the near future?
klobe: hello everyone have I missed a lot
Jillian6:Hello
wednday: Maybe - sounds like a good topic I will have to ask the powers to be.
melagirl82:klobe, we will be posting the entire chat on the AWG tomorrow for anything that you missed
klobe:thanks!
raj:What markets are hot and what markets are cold?
wednday:Good question Rodney.  Same sex weddings are very HOT and mommy and daddy are paying for the wedding is COLD
wednday:Everyone wants something different, but yet elegant, but yet simple, but yet affordable
raj:then who is paying?
wednday:The couples are paying
lbrown:is it possible to also do meeting planning and not spread yourself too thin?
wednday:A good way to see if your plan is a good one is to give it to a stranger and have them read it without the cover sheet and ask them to tell you what you are trying to do.
lbrown:what is a reasonable length for a business plan?
raj:anything other than same sex weddings hot?
wednday:Meeting planning, event planning and wedding planning all involves planning so the answer to your question is all based on how well you are with time management.  I would recommend that you do one event at a time and build on that.
whj1:I your experience is Wedding Planning driven by advertising or referrals? 
wednday:cyber brides - everyone is trying to plan their weddings on-line
wednday:Wedding planning based on my experience is referrals - there is nothing like word of mouth but in the beginning you need to do advertising to get your name out there.
wednday:A minimum of 12 pages should be your business plan or you could ask your lender for a sample copy of a previous client.
elite:What should be put into a contract
whj1:I've noticed that wedding planners are kind of "mean" people is this something that is required and should be considered in entering this business?
wednday:Would love to talk about contracts but tonight we are discussing a business plan and I would suggest that you let a business lawyer review your contract because each state has different laws.
lbrown:i wouldn't go as far as to say that we are "mean" there is a way to get things done without coming off as "mean", and instead "professional"
elite:How often do you meet
wednday:I do not advocate mean attitudes - that will only harm you personally and professionally.   You can get ahead a lot faster with sugar than that other stuff.
sharba:...
wednday:Some times you have to be assertive and not aggressive and people often get confused with the behavior especially since weddings are STRESSFUL.
wednday:Elite - I'm not clear on your question.
elite:how often do you chat
wednday:The minimum I will meet with a bride is four times before the wedding for at least eight hours
wednday:This is my second chat with Melanet..com (What a GREAT site)
melagirl82:thank you, wednday!
melagirl82:are there anymore questions for wednday?
Jillian6:Thank you, wednday.  The information you provided is very helpful.
wednday:Well it was a pleasure and I hope to chat with ya'll again.  Have a good evening.
melagirl82 :hi jluvs2shop
reciescott:I logged on too late, will have to join in next time for the business plan
melagirl82:the chat is about over, but we will be posting the entire chat on the AWG tomorrow
melagirl82:under AWG Interactive
reciescott: thanks....I will review it then
melagirl82:so be sure to check tomorrow
Jillian6:can we find the chat from the first session there as well?
reciescott:I am in Cali...and forgot about the eastern time zone
melagirl82: yes jillian6
melagirl82: the first chat is there.
melagirl82: you will find all AWG chats posted in their entirety on the AWG Interactive page
Jillian6: Thank you.
reciescott: have a great evening everyone.... Here’s to all the wedding planners!
melagirl82:ok, if there are no more questions, than you everyone for attending
melagirl82: we will have another chat with Wednday next month
melagirl82: please check the AWG regularly for updates
reciescott:I will keep posted
raj: http://www.melanet.com/awg
melagirl82: thank you all for attending
melagirl82:thank you, Wednday!
melagirl82: and also order a copy of Wednday's book
melagirl82:"I Do"...Weddings Guide to Starting a Wedding Consulting business
wednday:The pleasure was all mine :-)'s
melagirl82:you can order it from the AWG
melagirl82:best of luck to all of you with your consulting businesses
melagirl82:good night!