Although a proper legal structure is very important for a startup business, there are many other considerations that are very likely much more important if the business is to be successful.
In particular, developing a business plan is often very important, even for those businesses that do not intend to raise outside capital. Though the term business plan is quite general and can have a myriad of different meanings, the term business plan often refers to a document that contains the following seven (7) sections, or some derivatives thereof:
- Executive Summary
- Company Description
- Market Analysis
- Market Strategy
- Marketing & Sales
- Organization & Management Plan
- Financial Plan
The following infographic contains a brief visual summary of each of the aforementioned sections and is by no means comprehensive.
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This brief post is by no means comprehensive. Always seek the advice of a competent professional when making important legal decisions.
