Writing a business plan (35 years ago)

It was 35 years ago this month. I began researching and building a business plan for what would become Learfield. I had some comfort with my knowledge of both the regional news network business and radio in general, but still I thought it wise to confirm this. Further, I needed confirmation in my own mind that Missouri radio stations would join. And, while I’d sold books door-to-door for four summers, I hadn’t sold advertising. I had never been to an ad agency, much less a company advertising department.

There were twelve regional radio networks in existence that I knew about. I interviewed the managers of three of them: the Texas State Network; the Oklahoma News Network and the Arkansas Radio Network. I learned about their operations, and how they generated revenues. I called managers of many Missouri radio stations and asked them questions to gauge interest. Some of them completed a short mail survey. 

Later, when I was seeking financial support, I wrote a business plan. It’s pretty sorry compared to fancy plans I see today. There weren’t spreadsheet programs back then; heck, there weren’t computers! It did contain the basic elements however: operational plans, staffing, capital needs, revenue and expense projections and cash flow estimates. Today, I keep this business plan at my desk; it reminds me of how we started. I’ve never shown it around because it’s so amateurish. But today --for history’s sake-- here it is. Enjoy.

Download/View Business Plan -- This is a 27-page PDF file so it's too large to click and open in your browser. Right click the link and select "save target as." After saving the PDF file to your comuter, you'll be able to open it.

A final thought to would-be entrepreneurs: Research can make you risk-averse. If he'd polled America's radio stations, Rush Limbaugh would NEVER have cleared three hours over the lunch hour. Often you’re better served marching onward. 

--clyde

Comments

[Steve South]

Believe it or not - I actually read the 27 page business plan. I found it very interesting Clyde. Thanks for sharing it. I sent it on to Greg and Austin to encourage them in their future business endeavors. I liked your last comment - don't let what you find out in research stop you from moving forward. I am glad Derry and you moved forward back in the 70's as many have been blessed.

[Brad Olsen]

Hey Clyde, I actually scanned all 27 pages. Nice job on the report, better yet, on the implementation.
Brad