DEVELOPMENT: BUSINESS PLAN, FINANCIAL, LEGAL. The business plan is a document that outlines your overall business objectives, their viability, and the steps you intend to take to achieve those objectives. May be used for internal/external use, or both. Your
company will need a vision, the vision demands a strategy, the strategy
requires a plan, and the plan requires action including financial and
legal considerations. Six steps to action: situational analysis, objectives,
strategy, tactics, budget and controls. "Plan your work and work
your plan." Marketing plans will not produce a dollar of profit
if you don't implement them. But don't confuse motion with action. Winning
companies are those that do more of the right things (effectiveness)
and do them better (efficiency). Legal services should be client focused,
solution driven and results oriented. These fundamentals include a full
spectrum of legal services with a business-minded approach, cost-effective,
bottom line strategies, innovative, result oriented, creative and pragmatic.
Financial plans can be very creative including joint ventures and various
corporate structures, which allow for participation via stock ownership.
However, financing starts with you, friends and relatives. They also
can help find and attract investors. Government loans and grants may
be an option. |
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