How to Prepare a Business Plan and Secure Financing - Video

$ 29.00

How to Prepare a Business Plan and Secure Financing 

A frightening statistic: over 60% of all new businesses and over 90% of all new restaurants do not last five years!  Entrepreneurs dream, but unfortunately many of their dreams become nightmares.  However, the proper use of a well-documented business plan can create, sustain, and enhance the possibilities for a small business.

Tax planning is fire prevention while tax preparation is arson investigation.  While the preparation of a tax return documents a taxpayer’s tax history, a business plan can help turn a client’s dream into reality.

The IRS defines a business as an activity engaged into with the expectation of making a profit, a tax plan makes up the major part of a business plan.  In numerous Tax Court cases the court has overruled a “hobby” determination, because the taxpayer had a business plan.

Stu Sobel has substantial experience in taxation and business planning.  He taught entrepreneurship classes for 12 years as a member of the adjunct faculty at Indiana University.  He also served for more than 20 years as a counselor for SCORE, the volunteer arm of the U.S. Small Business Administration, where he assisted thousands of new businesses.

Major Topics:

  • Understanding your client and the type of business
  • Doing market research and analyzing competition
  • Developing the human resources plan for the business
  • Delineating the product or service line
  • Identifying the proper form of business organization – sole proprietorship, LLC, C corporation, S corporation, or other
  • Financial projections for three to five years
  • Acquisition of small business financing
  • Advertising, promotion, and social media
  • Employees or independent contractors
  • Use of available business plan creation software
  • Translating the dreams to the words of a plan and then
  • Moving the plan to the dollars of a budget

Learning Objectives:
  • Understand your clients and the trades or businesses they are involved with
  • Avoid small business financing mistakes
  • Improve tax planning techniques for future activities
  • Expand knowledge into many of the areas that are essential for a successful business
  • Utilize software that is beneficial for business plan preparation

Level:  Basic
CPE credit:  2 hours
Prerequisites:  None

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