| Even if you think you don't need to raise money, | | | | include the analysis on how your business compares |
| writing a business plan when you form an LLC is a | | | | with the competition. Make sure it includes your target |
| smart move. It allows you to see the strengths and | | | | customer and how you will market your business to |
| weaknesses in your limited liability company early on. | | | | reach them. |
| Forming an LLC without a business plan is like taking a | | | | Financial Projections |
| road trip without a map. | | | | Even if you do not need investors, you want to know |
| Your business plan should contain the details on how | | | | that your limited liability company has the potential to |
| your LLC will operate, financial projections, the | | | | turn a profit. Your financial projections should include |
| research you have completed on the market and your | | | | analysis and forecasts for: |
| competitors as well as the marketing plans for your | | | | Start-up costs |
| LLC. | | | | Break-even points |
| A well organized business plan for your limited liability | | | | Profit-and-loss |
| company can help you: | | | | And cash flow |
| Estimate your start-up costs | | | | Staffing Plan |
| Analyze risk and anticipate potential problems | | | | Unless you are forming an LLC that is a one man |
| Create revenue forecasts | | | | operation you will need a staffing plan. Your staffing |
| Make a profit early on | | | | plan should provide detailed job descriptions and |
| Convince potential investors that your LLC is a | | | | whether you will hire employees, payroll through a |
| good risk | | | | staffing agency or use independent contractors. |
| There are many formats you can use to write a | | | | Statement of Personal Finances |
| business plan. Whichever format you choose be sure | | | | If you do need investors to form an LLC then you |
| you include these key points that will make your plan | | | | must write a financial statement. You will need to list |
| organized and well thought-out. | | | | your personal assets, liabilities, sources of income and |
| Problem Statement | | | | expenses. Be honest here and include the good and |
| Start with a problem statement. Define how forming | | | | the bad. You want to make sure that you have |
| an LLC will benefit your customers and fulfill a need | | | | revealed anything an investor might find out about you |
| that exists in the market. For example, a lawn care | | | | on their own. |
| service can ensure a beautiful, well maintained lawn for | | | | Business Accomplishments |
| the customer without a lot of time. | | | | Here is your chance to shine. Show investors you |
| Business Description | | | | have the know how to run a successful business. |
| A business description gives details on what services | | | | Under business accomplishments, list any experience, |
| your LLC does or does not perform. Be specific, the | | | | training and formal education or success stories that |
| details you give will help you determine the amount of | | | | pertain to your business goals. |
| money you will need in start-up costs. | | | | Plan Summary |
| Marketing Plan | | | | Your plan summary is your final step in your business |
| Your marketing plan will be a robust part of your | | | | plan. Consider this your high points page. Here you will |
| business plan. The marketing plan should include the | | | | summarize your LLC's goals, how much money you |
| market research you have conducted on how your | | | | need and how much revenue you expect to make. |
| LLC fits into local and national markets. It should also | | | | |