By Phillipp Fischer at December 17 2018 19:08:17
But your idea may be so new that you may also need to talk to potential customers, host some focus groups, talk to an ad agency, or maybe even make a prototype and float it past some people. Be prepared to spend the time. Remember, it's not about the Plan but the Planning.
Carrying on with the example of a coffee shop, a business plan consultant will figure out what the best location would be. They already know coffee shops do well in areas with a certain demographic in place. These include students and workers, who are within close proximity to book stores.
Financial Plan - What is the anticipated income? What are the cash flow projections? What is the anticipated budget over the next 3 years? What is the break even point? When is it anticipated to be met? What funding is needed and where will it come from? What funding is currently available? What collateral is available? What is the net worth of the principals, if applicable? Possible Data Sources: accountant; accounting software; Small Business Administration; Small Business Development Center; SCORE; banks; venture capitalists.
A website reflects the uniqueness of a particular business organization and serves as your representative in the Google search. So, if you are planning to design a website for your organization make sure you choose the accurate web design for your company's website.
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