4 Essential Elements for Management and Organization in Your Business Operational Plan

4 Elements to include in your Business Operational Plan:

  1. Management and organization
    1. Who is going to manage the business?
    2. Include professional and advisory support positions, such as board of directors, attorney, accountant, insurance agent, banker, bookkeeper, mentors, key advisors, etc.
    3. How much money will be contributed by each investor
    4. What ownership percentage will each investor have? What rights does that percentage give the investor?
  2. Personal Financial Statements-include personal financial statements for each owner and major stockholder, showing assets and liabilities held outside the business
  3. Startup Expenses and Capitalization
    1. Accurately estimate your startup expenses
    2. Add contingencies where necessary
  4. Financial Plan-include:
    1. 12-month profit and loss projection-at least
    2. Cash-flow projection
    3. Projected balance sheet
    4. Break-even calculation

Lastly, include details and studies used in your business, such as:

  • Industry studies
  • Blueprints and diagrams of facility
  • Detailed list of equipment owned or to be purchased
  • Copies of leases, deeds, contracts
  • Market research studies
  • List of assets available as collateral for a loan

 

Please know that each and every business is unique; so, not all aspects of a business plan will apply to your business. Use what works for you and your business.

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If you have any questions please do not hesitate to email me at john@beerlawcenter.comor john@mathesonlawoffice.comor call 919-335-5291.

 

Be sure to check out Beer Law Centerand Matheson Law Officefor all things NC legal.

 

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