Mephisto Genetics Spannabis Stories and the future of Mephisto Genetics..!

[jackmc]

Business plans are really hard to write when you are actually running a business. You'll always have something to do that's more important than scribbling a plan, like keep the lights on. But it's one of the most productive things you can do for your business. Once you have a plan you borrow and appropriate amount of capital to fund that plan then you compare the forecast you made in the plan with your actual performance. If your actuals are within 20% of your estimates on the first go round you're in good company. Then you refine the numbers and your projections will eventually be very accurate.

You can fund the financing with capital or equity. By borrowing against assets or cash flow, or selling part of the business. There are all sorts of funding options. You try to find an arrangement that suits whatever criteria are most important to you. You and your partner keep at least 51%. Don't let the prospect overwhelm you though because your plan can be a few as 5-6 pages. Although I bet you'd have no trouble churning out 25-30 pages One of my favorite tropes is "You'll never reach your destination without a map." I have examples of business plans I've written over the years. PM me if you want to see one as an example and I'll dig it up for you.

Does Spanish law allow you (a pot related business) to use banking services? If the law allows that you should look into factoring. A creditor will lend you money based on your receivables. So if you could place a 60,000 seed order on three distributors you could ship the orders and have the creditor hand you 80% of any receivable. You need a track record but it won't be long before you have one. Choose a bank that has a good commercial lending department. I don't know what financial tools are available to you in Europe but I can't imagine you don't have access to some type of factoring. It's been going on for centuries. Woops

 

[mephisto]

I'll pm you

 

[HubbaBubba]

For me, my main dedication and pleasure comes from the projects and the creation and advancement of autos, I see auto's as a cause, and I love them because they changed our lives.. sounds dramatic but it's true

I was read older posts and stumbled on this.
Can't say it enough, thank you Mitch. Thank you, thank you, thank you.

Tyrone special is changing my life.
If I end up with six-pack abs and a trophy wife... I am posting a picture. LOL

 

[Birdu2]

Very interesting reading Mitch, cong for your 3rd place !
Well looks like there is a big big world the i didnt knew ...... and eaven if i just grow for the pleasure of it it alwas good to know and learn more aspects about it, specially after finding a guy like you Mitch, .... wich more then a sales man ..... its like a friend.
And thats to me the key and what make the big difference for a customer. Nothing compares with that kind of attention.
I defenetly understand your point of not having time to do more traveling, networking, and showing your brand to the world.
Never the less, as a buisness point of view, you wanna exapand and grow .....
You have a great and outstanding product for what i can see, so be a bit more patient .....and the next step to me its to hire / find someone who can help you in those small things that takes you big time .... im sure you can find someone to run to the post office, and get in charge of the online orders and deal with all that.
,,,,, mmmmm ..... i guess what im trying to say its you know you have a great product, things are gonna happend for sure, you need to invest on your own company to grow, it may take some time and some try out ( i guess you are use to that with your seeds ) keep it the way you are doing it, your are going to find the right people for your company for sure, and things are gonna get on track amigo. Just belive in what you have, and with the love you are putting into it, wich its what make all the difference, things are going to happend !
I always prefer quality over quantity.
We are always here to support you ! and we thank you for all the work and love you put into it. Time will reword you for sure.

 

[mephisto]

Very interesting reading Mitch, cong for your 3rd place !
Well looks like there is a big big world the i didnt knew ...... and eaven if i just grow for the pleasure of it it alwas good to know and learn more aspects about it, specially after finding a guy like you Mitch, .... wich more then a sales man ..... its like a friend.
And thats to me the key and what make the big difference for a customer. Nothing compares with that kind of attention.
I defenetly understand your point of not having time to do more traveling, networking, and showing your brand to the world.
Never the less, as a buisness point of view, you wanna exapand and grow .....
You have a great and outstanding product for what i can see, so be a bit more patient .....and the next step to me its to hire / find someone who can help you in those small things that takes you big time .... im sure you can find someone to run to the post office, and get in charge of the online orders and deal with all that.
,,,,, mmmmm ..... i guess what im trying to say its you know you have a great product, things are gonna happend for sure, you need to invest on your own company to grow, it may take some time and some try out ( i guess you are use to that with your seeds ) keep it the way you are doing it, your are going to find the right people for your company for sure, and things are gonna get on track amigo. Just belive in what you have, and with the love you are putting into it, wich its what make all the difference, things are going to happend !
I always prefer quality over quantity.
We are always here to support you ! and we thank you for all the work and love you put into it. Time will reword you for sure.

Thanks mate!
We aren't in a rush really.. This was just a bit of a confusing time of being pushed and pulled in different directions, but we're basically on the same path we always were, gradual step by step progression in the right direction.
Each time we do something, it does get better and that is satisfying to me! For example when I look at the first packaging in comparison to the new packaging.. It's a definite improvement

Otherwise we're just learning the ropes of business and getting more organized with our processes and everything else.

Cheers and thanks for the kind words, Mitch