Know Your Startup Requirements _ When you prepare a business plan you will get an accurate idea of exactly what is needed before you launch the company. You will need to consider all of the things that you will need to pay for prior to opening such as catering equipment, initial advertising and so on. When you have calculated the total cost you will then know exactly how much money you need and can look at where this funding will come from.
Having an effective business plan is critical to the success of any business. That is why I want us to examine this text entitled "Tips & Traps for Writing an Effective Business Plan." It is written by Greg Balanko_Dickson, a third_generation entrepreneur, Licensed Professional Business Coach and founding member of the Professional Business Coaches Alliance.