Elements Business Plan

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• Quarterly operating expenses for the first three years of operation of the business.

• Funds needed to start and sustain your business until it becomes self-sufficient.

It tells you if your business makes sense or is viable. It communicates to the rest of your team (assuming you aren’t going it alone) what is expected of them now and in the future.

If you’ve already started your business, but haven’t written a formal business plan, the time to do so is now.

You can also leverage it to obtain financing, if that’s part of your strategy.

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Jason Knapfel manages web content for Horenstein Law Group in Vancouver, WA, a business law firm that helps businesses achieve their goals through a wide range of legal services.

Though, much of this advice is focused on entrepreneurs before they start their journey.

With that in mind, let’s take a look at a checklist of the most important aspects of a business plan, those that will help you make the right moves to minimize wasted effort and expenses and maximize your chances for achieving your dreams. • Summarize your short-term, medium-term, and long-term goals.

• Review your business plan and make changes as needed.

• Prepare an executive summary for the business plan. It keeps you focused on goals through visualization, and makes sure you are organized and don’t miss opportunities or required actions in operating your business.

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