Tuesday, January 09, 2007

New Year Resolution for your Business - Get a Business Plan

Category:Business Law and Planning

I my representation of small businesses and their owners, a self-evident truth is that those with a business plan are more likely to succeed. While attorneys don't develop business plans, we are often involved in transactions that would benefit from a business plan having been in place (notice that I didn't say being created) such as investor financing, bank financing, mergers, employee equity plans, acquisitions.

Since the creation of business plans in out of my core area of practice, but essential for my clients, a introductory resource I recommend is bplans.com. The site is packed with Q&A about business plans, tutorials for the entrepreneurs starting a business, income and expense calculators, and business plans for purchase or free download (free of course being key to a startup). There is also bplans blog, which offers commentary on startups, small business, business planning and growth strategy.

Look for future posts on those areas of a business plan where your business attorney can offer the most resources.