From Business Dream to Business Plan: Where to Begin | Coulee Bank

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From Business Dream to Business Plan: Where to Begin

At Coulee Bank, our customers are at the heart of every decision we make. We value personal relationships to build trust while offering guidance and support to help your business grow. From dream to reality, we’re here to help you navigate life as a business owner.


Kolten Pingeon, Portfolio Banker at Coulee Bank in St. Paul, says, “Focus on the big picture first before getting into the nitty-gritty.” First, what problem does your product or service solve? Why is someone going to buy your product versus the competition? Use buyer insights and talk to the intended consumer to gather feedback. Focus on asking yourself questions about what you offer:


  • Do you offer a unique manufacturing process?
  • Does your company offer faster turnaround times and the ability to scale up products faster than another company?
  • Do you create branded options?
  • Is your customer support proactive, providing quick and helpful responses?
  • Is your return policy generous?
  • Is your company environmentally responsible?


Second, Pingeon recommends reviewing your startup costs and financial runway. Begin by outlining your upfront expenses and the ongoing costs of keeping the business running. Upfront costs include business registration, licenses, permits, legal and professional fees, equipment and technology, inventory or supplies, branding, website design, and initial marketing. Once the business is physically or digitally open, ongoing expenses include rent, utilities, payroll and benefits, insurance premiums, marketing and advertising, and inventory replenishment.


Third, Pingeon recommends examining your core motivation—perhaps the most important consideration when starting a business. Starting a business is a commitment. It often takes several months, if not years, before you see significant gain. Early challenges may include limited cash flow, rejection, product failure, and long hours. Navigating these obstacles requires taking calculated risks and focusing on solutions.


When you are ready to start your business venture, talk with a banker. Present your business plan and discuss loan options. Ask the banker about any financial details that have been overlooked. Pingeon says, “It may seem simple, but if you pay your vendors within 30 days while your clients take 60 or 90 days to pay you, you’re financing their business interest-free and could face a cash crunch.”


Managing a business means making important financial decisions. With determination, a thoughtful plan, and guidance from a Coulee Bank business banker, you can turn your vision into reality.