If you are considering following the American dream and forming a business, you should begin by creating a business plan to really gain clarity about your idea, your goals for your business, and your financial outlook. A comprehensive business plan can also serve as a tool to help others who may be in a position to invest in your company or lend you money gain valuable insights into the future of your operation.
How to Write a Traditional Business Plan
While these steps help you better organize your thoughts, you can write your business plan in any order that fits your needs. Keep your plan concise and precise, including only what is necessary and accurate. Here is what you need to include in your business plan.
Executive Summary: an overview of your business and plans.
Company Description and Objective: history of your company, address, and nature of your business, as well as goals with a clear strategy on how to meet them.
Organization and Management Structure: how you will organize, your management team, and who you’ll hire.
Service(s) / Product(s) Details: what you will be selling and how.
Marketing / Sales Plan: how you will market your business to drive sales, pay for marketing, etc.
Financial Analysis / Projections: how you will generate income and what expenses you will incur, broken down into monthly, quarterly, and yearly projections.
Appendix: includes supporting documents for all information included in the first six steps, such as incorporation or organization paperwork, permits, expense summaries, etc.
The Next Step
After writing your business plan, the next step is for you to form your organization. You should have already determined whether you will be incorporating or organizing as a limited liability company (LLC), partnership, or sole proprietorship. If you haven’t yet, that is your next step. Then, you will need to file with the state of Florida, either on your own or with the help of our corporate attorneys, who can provide legal guidance to help you better navigate the complicated process of beginning a business.
For Business Formation That Ensures You Are Legally Protected, Turn to the Corporate Lawyers at K/S Law
To help ensure your business is properly formed, has fiduciary duties in place, and that the rights of everyone from you to your shareholders and clients / customers are legally protected, contact our Boca Raton corporate lawyers at 561-939-8042 today! We specialize in business formation, providing general council to help you achieve your dream of starting a business and can provide legal assistance as needed to help safeguard your investment.