Developing a business plan is important for any startup network marketing company. A business plan can help to communicate how you plan to build sales, raise capital, determine future funding needs, and define key elements of your operation intentions. Clear business plans aid in finding funding and investors.
The U.S. Small Business Association suggests that your business plan should include some or all of the following:
- Executive Summary
- Company Description
- Market Analysis
- Organization & Management
- Service or Product Line
- Marketing & Sales
- Funding Request
- Financial Projections
- How to Make Your Business Plan Stand Out
Arguably one of the most important functions of a business plan is to attract investors and raise capital. Not all entrepreneurs have access to quick startup capital. According to MLMLegal.com, most startups have to first turn to friends and family to assist with initial investment funds. For those in need of additional funding, angel investors and private placement venture capitalists become a necessity.
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Our next Starting and Running the Successful MLM Company Conference takes place February 27th & 28th, 2014 in Las Vegas. Call 503-226-6600 or 800-231-2162 to register.