Description: Imagine Freedom Magazine
Before you form your new business officially by filing paperwork with the state or local government, take some time to create a business plan. A comprehensive business plan holds high-level of value for more than simply asking for funding. When you take time to create your business plan for your new company, your mind will be forced to answer tough questions as you reflect back to your original thought process. This process will help you identify any missed opportunities that should be captured in your plan
The purpose of this exercise is to create a comprehensive business plan. The end product will be more than putting down the name of your business, where you will be located, and who will run the business. Many scaled-down plans run far short of being helpful. From this point forward, think of your business as being on-going forever. You, at some time in the future will not be able to continue with the business operations; therefore, your plan must be written in a way to allow a successor to lead your busine
The first area of your business plan to review is the type of legal structure that you want to form. Your choices are: A corporation, a partnership, or a sole proprietorship. The best protection will come from forming a corporation. The top three reasons are: you have the ability to protect your personal finance, you have the ability to work towards creating a strong brand with logo's protected by trademarks, and lastly, if you have partners, any one person can sell their shares if they decide to no-longer