Ken Olsen raised money to start Digital Equipment Corporation with the help of a plan copied out of a textbook. But all business plans are not the same any more than all businesses are. In the early years of your start-up business, you'll almost surely experience a reduction in your take-home income just as you'll also experience the feeling of a lack of security. Most bank loans are short to intermediate term, meaning they are due in anywhere from less than a year to five years.

Get your money to work for you

You ll want to stress such things as corporate mission and vision statements and analyses of current industry and economic factors. Outline the next actions to be taken by the group (things to do, next meeting, etc.). And they don t want ownership. A rookie mistake is to make assumptions.

Insurance requirements for Distribution

If you don't know your direct cost numbers, it's next to impossible to ever make any money! Certain colors evoke certain emotions and perceptions, and are associated with certain types of businesses and fields. It s often difficult to get an attorney to commit himself on paper about the prospects for winning or losing a lawsuit. In smaller companies, bring in a college marketing student to help you for a few days every month.

Project Management in Quality

The same is true of the availability of funds. An important question to ask is, How do I raise money and not violate the law ? Legal professionals can guide you in your planning process to ensure that your company will not violate the laws regarding financing. Win-win negotiating aims to satisfy both (or all) parties in a negotiation by employing meta-strategies: What is the next higher level of thinking that will give everyone what they want? Larger businesses, seeking major funding, will often have miniplans as well, but the full business plan will be waiting in the wings.

Opening and closing procedures for the Research and Development Department

This inconsistency in our work quality and service became overwhelming, and it reduced our ability to grow our business. Profit shows you how much money your business makes. Angel investors used to be a difficult group to find. Are you making more money than your competitors?

Create a target customer list

Will you have already cashed out and be relaxing on a beach somewhere, enjoying your hard-won gains? (When I took a hard look at our overhead costs a few years ago, I found that people were abusing the company accounts and ordering more things than we needed.) Consider outsourcing as much as you can to cut your overhead, including payroll services, employee training, scheduling, marketing services, safety programs, and equipment maintenance. The best use of somebody else s money is to buy or build something that will make more money, both for you and for that person. To determine your USP, it helps to think of the problem in your niche that you are trying to solve and of the method you ll use to do so.