Constructing Your Business Plan

A business plan provides an understanding of your business' organization and how it will meet customer demands.  It demonstrates that your new business is solid and looking ahead to future growth.  This business plan will be presented to lenders, creditors, investors, employees and others who need information about your new business project.

• Talk with the Roscommon County Economic Development Coordinator
• Select and meet with an attorney  (legal form of business, contracts)
• Select and meet with an accountant  (bookkeeping, cash flow)
• Select and meet with an insurance agent  (packaging of insurance)
• Check business name availability
• Research licensing requirements
• Identify a business location
• Write a narrative for your new business concept and consider including the following:

Executive Summary

Business Characteristics

Personal Resume

Organizational Charts

Job Descriptions

• Determine employee requirements  (Call Carmen Cook at Michigan Works!)
• Project startup costs
• Project costs for one year on a monthly basis
• Do a cash flow statement
• Complete a balance sheet
• Determine a breakeven
• List sources and uses of funds
• Gather supporting documents
• Work with an Information Specialist (Hardware/software advice & website)
• Identify a market, promotion, and pricing
• Select a financial institution (Loans, billing services, credit systems, bank accounts)