Learning to write a business plan

One of the best/worst experiences I have had was when I was trying to start a business of my own with an old friend of mine.

It was my original idea, and I did most of the writing and research for the business plan and the connection to the investor we got was through my friend. We ended up getting $20,000 with the idea if we could make something happen with this relatively small amount of money this investor may be interested in funding the rest of the portion needed to start our entire business.

My advice is to put the money into a bank account that requires TWO SIGNATURES (of both names on the account) in order to move any money. One day I got a call regarding my account and how it is "out of funds." I went to the bank and the lady told me my "friend" had transferred the money into his own account.

Sure enough, he split.

Don't let this happen to you- be smart and protect yourself. Don't rely on a friendship or trust- rely on good business sense.