Thread: We have cash to burn...or do we?
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Unread 12-12-2010, 16:05
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Re: We have cash to burn...or do we?
Quote:
Originally Posted by RoboMom View Post
I would recommend you come up with a business plan looking at sustainability over the next 3 years before you spend down all your funds.

There are some great team handbooks out there that you could look at. Some are posted here: http://www.usfirst.org/roboticsprogr....aspx?id=14036
358 & 1511 have terrific planning for example. I also recommend 234 continuity plan posted in the white papers on this forum. And I'm sure there are lots of other great examples.
Travel eats up a lot of budgets.
Excellent idea!

While you have the time, please try to create a business plan, showing most expenses, funds, and fundraiser profits. 103's business plan has been a work in progress for years because we never actually finish it. The second we update it, we buy something else. We have, however, won many entrepreneurship awards because of our constantly improving business plan.

I would say that the most important knowledge we have for the continuity of our team is within our business plan. It allows us to see how we are doing compared to previous years, make changes to the way we are doing things, and improve on our spending habits every year.
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