Volume 34, No. 9 October 2003
Building an independent practice
What to put in your business plan
INTRODUCTION
* Detailed description of the business and its goals
* Ownership and legal structure
* Skills and experience brought into the business
* Your competitive advantage
MARKETING
* Products and services offered
* Customer demand
* Market size and location
* Advertising and marketing plan
* Pricing strategy
FINANCIAL MANAGEMENT
* Amount and source of start-up funds
* Expected cash-flow for the first year
* Projected income statements and balance sheets for the first two years
* Your break-even point
* Personal methods of compensation
* How you will maintain accounting records and procedures
OPERATIONS
* Daily management
* Hiring and personnel policies
* Insurance coverage and leasing agreements
* Delivery of products and services
Source: Diana Gordick, PhD
Print version: page 41
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