By Hoge at August 15 2019 13:46:35
Financial Plan _ What is the anticipated income? What are the cash flow projections? What is the anticipated budget over the next 3 years? What is the break even point? When is it anticipated to be met? What funding is needed and where will it come from? What funding is currently available? What collateral is available? What is the net worth of the principals, if applicable? Possible Data Sources: accountant; accounting software; Small Business Administration; Small Business Development Center; SCORE; banks; venture capitalists.
Increase Personal Productivity _ You have to be organized when you start a business. Rather than writing things down on loose scraps of paper and hoping for the best you need to have somewhere to compile all of the important data that you collect. A business plan is ideal for this purpose. If you store the business plan as a document on your PC you can simply add new information as you come across it. If you have done your research and have all of you information stored in one convenient location you will be more organized throughout your business launch and you will avoid a lot of unnecessary headaches.