Don’t Start a Business without a Solid Business Plan

HomeLegal Services BlogDon’t Start a Business without a Solid Business Plan

You want to start a business. But to do this and do it successfully, you need to create a solid business plan. Before you start a business, make sure your business plan includes the following components:

  • Executive summary—This should be the first page of your business plan, and it should explain the main focus of your business and what you hope to accomplish.

Don’t Start a Business without a Solid Business Plan

  • Company description—This section provides a snapshot of your small business and key information about it. For example, include your registered business name, your business’ operating address, the name of your business, and key people involved with your business.
  • Objective statement—Your company’s objective statement should define your company’s goals and cover your business strategy.
  • Management structure—This is where you will list your business’ legal structure. Include whether your business will be a partnership, corporation, or sole proprietorship, and who will be the key owners of your business.
  • Products and services—In this section, go over the main products or services your business intends to provide in detail.
  • Marketing plans—Provide an explanation of how you will market your business and your plans for executing this plan.
  • Financial projections—If you are interested in bringing on investors, this is an important section. Outline where you intend to get your funding and your financial goals for the next one, two, and three years.

If you have plans to start a business, talk to our lawyers about how we can help you protect your business from a legal standpoint.