A business plan is often the entry-level requirement to getting government money, investor capital or bank loans. Although, you may have a complete picture of the business in your head, investors and bankers need to see if you really have an understanding of the business and have thought it through. The business planning process does not guarantee success but surely decreases the odds of failure.

While your plan can be as detailed or specific as you like, there are two primary things you should include:

Description of your business:
a. Clients, both specific and general
b. Competition, again, specific and general
c. Competitive advantage

Your business finances:
a. Your target salary
b. Taxes (30-40%, but consult your tax attorney)
c. Business expenses (like rent, utilities, computers and furniture)
d. Billable hours (will you work 40 hours a week, part-time, only on weekends, etc.)

Referral link to SBA

This entry was posted on Friday, April 24th, 2009 at 2:00 pm and is filed under Uncategorized. You can leave a response, or trackback from your own site.