Well for the first time since capitalbizplan.com started we have gone 30 days without a question for Mr. BizPlan.  This is probably OK as Mr. BizPlan has been busy with a side venture.  I am going against most of my good instincts and rules of thumb and investing in a business venture.

You see, I have had this idea for a restaurant in a small community close to where I live running around my head for the last few months and it finally caught up with me.  Knowing that my life is too busy to run a restaurant I shared the idea with a friend of mine and we both got excited and started planning to open the business.  He will own 60%, I will own 40% and he will draw a (minimum) salary for managing the business for the first year.  After a year we plan on hiring a full time manager who will eventually buy the business by building equity. 

Looking back I am breaking two of my cardinal rules a) open a business with good odds of success - restaurants have poor success rates b)Never partner with friends or relatives - Oops!

Oh well…the investment is relatively low (about the price of a nice new car) and the breakeven point is even lower…so it should fly.  It should be a good refresher and learning experience for improving the site.  I have even thought of starting another blog sharing the day to day experience of starting a business.  But now I am 45 days into it and it would take a lot of back logging.  Let me know what you think.

It has been interesting, being on the other side again (as an entrepreneur instead of a consultant).  It has been several years since my last personal venture and it is exciting and nerve racking at the same time.  Also, I have had a chance to fully use my free business planning software as a legitimate user and see where it works well and where it needs improvement.  We are planning some updates with the programmers right now including a spell checker that should be done by August. 

I hope you all are enjoying your summer…it is even suppose to hit 100 degree here in the upper Midwest!

Mr. BizPlan

PS - Keep those questions coming!