It’s always good to have a plan and this is doubly true in the world of business
But what should your business plan hold?
- Priorities, milestones/goals and KPIs to measure week over week, quarter over quarter, or year over year.
- Market research. Your business plan should help you gauge the probability of success based on your understanding of the industry, your potential customers, and your competitors
- Your financial needs. Figure out precisely how much capital you need and what your capital will be used for
- Enough information to attract investors. Your business plan will be the basis for financial proposals and loan requests; potential investors want to know that you’ve done adequate research and are sufficiently dedicated to your purpose before they decide to invest.
How can Huddleston Tax CPAs help?
Our CPAs have substantial experience writing valuations for small businesses as well as a firm grasp of the particular concerns facing start-up companies.
- A Fellow Startup
Huddleston Tax CPAs started small, so we understand the accounting and tax issues faced by small businesses. We have coached many businesses during their critical start-up phase
- Effective Communication
We collaborate with you, step-by-step, to ensure proper due diligence is taken and that your idea is adequately marketed to potential investors, employees and partners.
Here are a few of the sections typically included in the business plan:
- Financial projections for the early years of your business
- A clear, carefully developed mission statement and list of business objectives
- A comprehensive market analysis and business strategy
- A marketing and sales plan, including a basic sales forecast
- Financial plan and break-even analysis
Take advantage of our resources and visit HTCPA Sample Business Plan
to get a sense of what’s involved with developing a basic business plan and how you can go about creating your own plan to attract investors and make an impact in your industry.
Do you want to start a new business now or in the near future? A detailed business plan is something you will sorely benefit from as you’ll be able to see where you’re going and how to get there. Use our tax calculator to see how you could benefit from being an S Corp rather than sole proprietorship. An organized and well-conceived business plan will contribute toward attracting investors; it is not reasonable to expect investors to be excited about your idea if you’re unable to clearly express why your idea represents a good investment opportunity.
Huddleston Tax CPAs has a wealth of experience working with small business owners; furthermore, we have collectively owned and operated a number of successful small businesses ourselves. We can take our concrete, solid business expertise and assist you in translating your idea into a personalized business plan which will help you achieve your specific goals and objectives.
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