Starting A Business

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Starting-A Business-Business Plan

This Friday, June 30th 2017 we will be half way to the year 2017. It is this time of the year-long summer days, vacations, slower pace, that inspire entrepreneurship in many of us. Usually during the summer time we get calls from people who wants to start a business, has come up with a bright idea and now wants to take the next step.

We will cover some aspects of this whole process of Starting A Business in a series of blogs.

The first step, and actually it’s the immediate step once the bright business idea enters your mind, is to develop a Business Plan.

A Business Plan works as a tool to organize different ideas and possibilities. It is also useful to obtain a business loan to set up operations. It is actually a BLUEPRINT of your operations for the next couple of years. It can also be stretched to the decade. You can control the level of the detail, but a good business plan should include at least these items:

  1. The type of business, product or service offered
  2. Type of customers
  3. Pricing
  4. Start Up Capital
  5. Forecasting of revenue and expenditure
  6. Marketing plans

 

To create a business plan or for help in filling out any of the detail, you can consult sources at the public library, over the counter computer software, the local Chamber of Commerce, local colleges and websites such as Small Business Administration at www.sba.gov

 

We will continue the talk of Registering the Business and other tax considerations in next blog. In the meantime, Contact us today to take advantage of our “Claim Financial Sanity This Summer” offer of One Hour Complimentary Session for Insurance, Taxes, Financial Planning for your family

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