Thread: Business Plans
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Old 12-06-2021, 02:56 PM   #4
Moose
somebody shut me the fark up.

 
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Join Date: 10-12-08
Location: Gallatin, TN
Name/Nickname : Richard
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A good business plan is always a good idea if well executed - it's a great exercise in putting forth your concept on paper, which will allow you to refine aspects of it as you go along. Additionally, having a detailed list of your expenses helps you plan accordingly.

I've written a few of my own business plans, and even more for clients for who were in the process of raising capital. There's two major parts of a plan that are relevant for a small company - an executive summary, and a detailed financials spreadsheet that outlines capital expenditures along with projected revenues over the course of 3-5 years. A concise 4-10 page executive summary should suffice for most small startups.

In every instance I've worked with clients on business plans, the process created an opportunity to smooth out the edges and more powerfully articulate their business concept, as well as being able to plan for different kinds of revenue scenarios, not to mention uncovering unexpected expenses they weren't aware that they would be responsible for. This provides a much greater degree of preparedness and confidence in launching the venture.
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