Business in Bed - Business Basics from Hartworks, LLC
A REAL BUSINESS PLAN
If you're at all like me you hate the idea of sitting down and planning out all those details. But, you know what? It really does make a difference. Take a look at this scenario. You sit down and work through the entire process of producing a working plan for your business. When you're done, you look at the results and decide there would be no way you could make a decent living with it. Isn't it better to find that out BEFORE you sink any more time or any money into it? On the other hand, if your plan looks workable, you will be able to target your market, have goals to work toward and know how well you're progressing. You could even obtain financing that would be impossible otherwise.
  • There are a number of software packages designed to help you create a business plan. If you already have Microsoft Office 2000 for Small Business, it includes a business plan wizard to guide you step by step through the process.
  • You will also need to determine the type of organization you will use for your business. Will you be a sole proprietorship, a limited liability company, a partnership, a C corporation or an S corporation?
  • Another often overlooked item is a separate business checking account. One of the biggest problems with new businesses is mixing personal and business transactions in the same account. Start out right and you won't get caught in the tangled mess mixing accounts will create.
  • Before you begin, find out what local rules and regulations apply to your proposed activity. Some cities, housing developments and counties have strict guidelines as to what is allowed in certain areas.

Need help with your plan? Hartworks, LLC will assist you in developing your business plan. Check out the consulting page.

 

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