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Wednesday, October 05, 2011

Make a business plan

Even if your practice is up and running it is probably worth while to look at your business plan. If you are just now planning to start a new practice, having a business plan is essential.
A formal business plan contains many parts. You can get a template free from the US Governments Small Business website. It is a great and free resource. The business plan is your chance to plan for as much contingencies as possible before you spend the money. Brainstorm all the what if's. List them all. Then add up how much money worst case will cost.
Then compute the upside--the most you can make with the business.
Is your business still worth the risk?