My first business plan
I started my first business when I was 15. Here's how I wrote my first business plan for Student Magazine...
The headmaster suggested that I air my views in the school magazine, but Jonny Gems and I wanted to set up an alternative magazine with a fresh attitude. We wanted to campaign against corporal punishment, compulsory chapel, games and Latin.
All these ideas were far too ‘revolutionary’ to be aired in the school magazine, The Stoic, a name which seemed only too apt to its long-suffering readers. We then thought about linking up with other schools that had similar rules. Gradually the idea of an interschool magazine was hatched.
We would link up with other schools and swap ideas. I jotted down a few titles in a school notebook: Today, 1966, Focus!, Modern Britain and Interview.
Then I wrote out what I wanted to publish and did some more sums. I wrote out a list of 250 MPs whom I found in Who’s Who, and a list of possible advertisers whom I found by going through the telephone book.
I also wrote to WH Smith asking whether they would be prepared to stock the magazine. Thus, with contributors, advertisers, distributors and costs all in place – at least on paper – I had written my first business plan.