Their small business loans officer has called me personally three times this week to walk me through the application process. They require a full business plan with three years of financial projections. So I had to spend the later half of this week updating the business plan that I had prepared back in 2014. If nothing else it felt really good to revisit our plan with the benefit of the historic actual results that we have achieved to date. The plan basically says that we will generate modest income for the period from 2017 and 2018, but 2019 will be our breakout year - our fifth year. By then, most of our inventory will have been listed, and we will have had our first full time employee since mid 2018. This is entirely within the norm for newly established businesses, in that it takes 3-5 years for the average business to become profitable, let alone generate significant income.
But it is going to be a hard grind. I cannot emphasize enough the importance of these two things in starting a business: