You MUST have a plan. Simply put, it encompasses the Who, What, Where, When, How and Why of your business. If you have more than one partner, it will also spell out what the responsibilities are and what are not. It describes your business in detail from corporate structure to advertising and market segments. If you are seeking investors (equity or debt) it may be a good idea to put your personal financial statement in it as well. (ask your attorney about this possibility and if it's necessary.)
You may want to look at ALL of our samples on all of our Accounting Pages to get you on your way.Your investors will want to see a business plan at any rate. It lays out all the details of the business, especially the ROT (rate of return.) It also helps you to put some things into perspective as well - such as controlling your costs. |
