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By Lika Ramlal at April 15 2019 00:54:16

But do not be too paranoid, make sure you are showing it to people you trust, whose feedback you welcome and can be genuinely useful in guiding how the plan takes shape. Very often when working as individuals we get very close to certain details and miss out a big thing that has slipped your mind. You can concentrate so much on essential financials and supply logistics, but overlook other issues like marketing or opening times. By showing the plan to someone you trust, they can have a look and see what might be missing or worth developing more. Getting that valuable second opinion on how robust your idea is will put you in a much better position to start and keep going successfully.

Description _ What product(s) or service(s) are you offering specifically? Are any patents, copyrights, or trademarks needed? Have they been acquired/filed? What is the size of your business? Where will it be located? Will this require purchasing or building a facility? Will this require leasing a facility? At what cost? Has a lease been negotiated? What personnel will you need? Where will you find suitable employees? What equipment do you need? Will it be purchased or leased? What are the qualifications of your principals? How do their backgrounds promote the success of this venture? Why do they think this will be a successful venture? Possible Data Sources: local Chamber of Commerce; community colleges & local universities; local employee leasing company; real estate agents; US Patent & Trademark Office; US Copyright Office.

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If a document needs to be developed that requires input from other disciplines_Finance, HR, Property & Facilities, Marketing, Procurement/Supply Chain_ then most likely you are looking at a team building effort to get the job done. In any event, don't look at the task as only as a roadmap that leads to a profitable product or enterprise. Business plans are a great way to build team buy_in, force a thorough review of options, define objectives, establish benchmarks to judge performance, and help arrive at a plan_of_action. Ultimately, it can lead to a Project Management approach to implementing a plan and that can be as involved and detailed as is necessary.

So, let's see how we would make a business plan that would show exactly how your business could give you the salary you want. First you would determine what you would like your salary to be. You've dreamed about having a nice income to support your dreams I'm sure. Let's say right now you only make what your profit is giving you which might not be much. So let's say the first year, next year, you would love to have a consistent monthly salary of Ŭꯠ a month, every month. And every year you would like to be able to increase it so that after 10 years it would be at บꯠ per month. And let's say you would like to grow your business 10% each year.

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