Whether you're just getting started or you're a seasoned professional, you can
benefit from this portion of our program. Compare our model business plan,
based on using known numbers and expectations, with your own.
Your
“Business Entity” is the structure under which you will conduct your company.
There are advantages and drawbacks to each of the alternatives from which you
can choose to operate your business. Even if you’re already in business,
depending on your situation, you many want to consider changing the form of
business entity under which your business is being conducted.
In this session, you will learn:
How to obtain a “DBA” (which stands for “Doing
Business As”, which will be your company’s name).
What’s involved in forming a “sole
proprietorship”.
Advantages and disadvantages of a sole
proprietorship.
The difference between a sole proprietorship
and a “partnership”.
What you need to consider before choosing to
form a partnership.
The pros and cons of a partnership business.
The difference between a “C Corporation” and a
“Subchapter–S Corporation”.
Why forming a Sub-Chapter-S Corporation may be
a good choice.
How a Limited Liability Company (LLC)
differentiates from a Corporation.
How forming a Corporation or LLC can protect
your personal assets.
How you can save several hundred dollars on the
cost of incorporating or forming an LLC.
Hyperlinks to online incorporation and LLC
resources
Before opening for business there are several
activities you need to take care of. This session will help you identify,
organize and prioritize these activities.
In this section you will learn:
What an
EIN is and how to obtain one.
What
you’ll need to open a business bank account.
What type
of licenses and permits you’re going to need, and how and where to obtain
them
An
inexpensive alternative to renting physical office if you plan to start the
business from your home in a community that will not grant a business
license at residential addresses.
What you
need to consider if and when you’re ready to lease commercial office space
from which you will operate your business, including tips on negotiating the
lease.
The type
and amount of insurance coverage you’ll require.
How and
why you need to obtain information on other cleaning companies in your
market.
The
furniture, office equipment, communication, software, printing, and cleaning
supplies and equipment you’re going to need for your business.
If
you’re like most entrepreneurs, accounting is probably your least favorite
subject: “Let somebody else do the numbers crunching; let me run the
business.” However, not paying attention to the numbers is often the reason
many small businesses run into trouble.
Whether you use accounting software, the
old-fashioned manual method, or a bookkeeping service, we provide you with a
standard Chart of Accounts for various assets and liabilities on your Balance
Sheet and income and expense items on your Profit & Loss Statement.
In this section you will learn:
What
“Capital Expense” items are and on what basis they may be expensed
(amortized) in accordance with IRS guidelines for income tax purposes.
What items
will appear on your Balance Sheet as “Current Assets.”
What items
will appear on your Balance Sheet as “Fixed Assets.”
What items
will appear on your Balance Sheet as “Current Liabilities.”
What items
will appear on your Balance Sheet as “Long Term Liabilities.”
How to
determine your company’s current Net Worth, or “Equity.”
How to set
up your Chart of Accounts for your Profit & Loss Statement (P&L).
Why it’s
important to identify sources of income on your P&L.
Hyperlink
to recommended accounting software and tour/demonstration
PLUS this session includes the following
printable PDF documents:.
This session is MUST reviewing even if you’re
already operating a cleaning business.
While most people think that a formal business plan is only used for obtaining
borrowed money or investment dollars, that thinking is incorrect.
Taking the time and effort to create a formal,
written business plan is the only way to solidify in your mind where
you want the business to be. The process forces you to think through your
goals and strategies for achieving those objectives. It’s the roadmap for
your journey to success.
In this section you will learn:
Why you
really need a business plan, even if you don’t intend to use it to borrow
money or raise investment capital.
The various elements that need to be included
in your business plan, including:
The
Executive Summary: a brief overview of the entire business plan;
The
Market: who your market is and what the potential is from that market;
What your
Competitive Advantages are;
What
Marketing Strategies you will employ to generate prospects;
What Sales
Strategies you intend to use to convert prospects into clients;
Your Sales
Forecast for the first three years, and the assumptions behind the forecast;
Your
Personnel Plan: when and how many people you will need as your business
grows;
Milestones
that will serve as “way points” or stepping stones on the progress of your
plan;
Your
detailed Financial Plan; your Pro Forma Profit & Loss Statement projected
out over the first three years;
Your
Specific Objectives: goals that can be measured in quantifiable terms;
The Keys
to Success: what specifically will be required to meet your objectives.
PLUS
Hyperlink
to recommended Business Plan software (take the guided tour)
Hyperlink
to recommended Mailing List site to obtain FREE demographic information on
YOUR specific market.
A
printable sample Business Plan you can use as a model for creating your own
personal document.
