Starting A Business


BUSINESS PLANNING

A Strategic Business Plan describes your company, its products,market environment, management team, financial health, and business risks.


Compile a comprehensive business plan:



Describe the product or service and its place in the market



Identify the customer


Develop marketing plans, including promotional campaigns



Outline management and staffing to include key players, skills, attitudes and expertise needed to build the venture

Project start-up costs and a break-even analysis for the first 3 to 5 years


Calculate building and equipment needs

Formulate company timelines for upcoming products and services in development


BUSINESS FORMATION

The best laid plans are still just plans.







Determine your start-up capital requirements and Identify sources.


Quantify your borrowing power.

Select a business structure that best fits your needs:

Evaluate tax advantages.

Limit exposure of your assets to liability related to your business.

Streamline business operations.



Recommend accounting software by evaluating your budget, requirements and personnel.



Establish billing and collection procedures to maximize your cash flow.



Create a budget and recommend procedures to monitor and control costs.

Prepare and file:

All required state and local registrations and accounts

Federal Employer Identification Number

Payroll tax reports

Identify and quantify your business insurance needs.


FINANCING

Initial Capital is the hardest to obtain.





Compile a comprehensive and accurate financial statement for loan applications.


Document the value of collateral being pledged as security for the loan.