How To Plan A Business

Be sure to document all of the assumptions you used in forecasting your revenues and expenses.

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Include income statements, balance sheets, and cash flow estimates.

For years one and two, show Income and cash flow Statements on a monthly basis.

Below are several points to consider when writing an effective 5-year business plan. Combine your goals with your vision for your company.

Decide on the best strategies – e-commerce, retail locations, business-to-business, business-to-consumers or combinations thereof – to reach your business objectives.

For example, if you are strong in technology and accounting, be sure to mention your marketing, customer relations and operations skills.

If you're going to "outsource" these functions, explain how you plan to use other experts and whom you're considering.

A 5-year business plan will help you manage your company and seek loans or investment money.

This term is familiar to most commercial loan officers and small business investors.