Some experienced commercial entrepreneurs craft sound and responsive business plans relatively quickly and with seemingly little effort, while other commercial players – even seasoned business principals – have great challenges crafting such documents.
That is really not surprising. There is no such thing as a boilerplate business plan. Every envisioned start-up is unique, and even leaders of well-established entities often find that material adjustments are necessary to their plans to ensure continued viability and profits.
Although plans will vary, there is constancy regarding them concerning at least one major point: They are necessary. As a recent Forbes article on creating a successful plan in the small business realm notes, an entrepreneur is “two-and-a-half times more likely to start a business simply by writing a business plan.”
So that “first step forward” element is key, even if a fully fleshed out and seamless product can’t be reasonably envisioned at the outset. Indeed, it would be an anomaly if it could be.
Experienced attorneys who work with varied business entities and have a demonstrated record of proven advocacy can help, both with the process and the details. Studied and on-point counsel is in fact what seasoned commercial lawyers routinely deliver on behalf of clients.
The Forbes piece duly mentions a long representative list of matters that are relevant to a business plan. Those broadly encompass company goals and challenges, economic data relevant for consideration by potential investors, internal entity structure, sales/marketing processes and many additional points of focus.
Rich Michaelson Magaliff attorneys help clients with all those concerns and more, and even serve as general counsel for a number of businesses in New York and elsewhere. We welcome contacts to the firm and the opportunity to discuss the work we do to promote the commercial interests of our valued clients.