By Tjitte de Werd at April 15 2019 00:33:39
I mentioned the financial aspect of a plan earlier, so let me add this. Another fact about financials to consider: not all business activities are about making money. Point being, in most enterprises financial considerations are centric to the document. But there are some other considerations. For example, a few years ago I wrote a plan for a new subsidiary that was focused on developing an inventory of patents. The potential financial returns were years into the future. Those patents may or may not ever have commercial value. Another example is a non_profit enterprise that has need for a complete roadmap for growing their profile in a market, of which a marketing plan would be the centerpiece.
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.
Are you at a point with your business where you just don't know what to do next? Do you have a business plan? How about a growth business plan? Have you looked at a lot of different ways to grow your business and nothing seems to work? The right growth business plan could be your answer. If a growth business plan is done the right way it may open up some opportunities you have never thought about before. A growth business plan can be developed many different ways but I would like to discuss a growth business plan that you may have never thought about.
Second, decide what you want your salary to be. Third, determine how many years in the future you want to plan for. Fourth, you will need to know: 1. What % is your material cost of sales 2. What % is your labor cost of sales? 3. And what % is your variable expense of sales?