Starting a Business

This describes why your services or products would be in demand

• Executive summary

• Market potential

• Financial projections

• Company goals

This is where you list short and long term goals

• Executive summary

• Market potential

• Exit plan

• Company goals

This is where you outline your objectives and goals

• Company goals

• Executive summary

• Exit plan

• Financial projections

A personal financial statement contains 3 basic elements, they are:

• assets, financial documents, net worth

• assets, property and credit

• liabilities, loans, net worth

• assets, liabilities, net worth

This consists of all the money you owe

• assets

• liabilities

• net worth

This is more of a license for operating a business than a form of ownership

• Corporation

• Sole proprietorship

• Franchise

• Partnership

This is an advisor on the legal obligations of business ownership

• Accountant

• Insurance agent

• Lawyer

• Distributor

Your net-worth is determined by:

• Liabilities minus assets

• Assets minus liabilities

This is the document that you need for lenders to determine if they will loan you money:

• A business plan

• A good credit score

• Assets

• Liabilities

When you open your business, you naeed to have money to operate for how long:

• First month

• 6 months to one year

• 3 years