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Business planning: When to get it done

Opening a business? Already own a company in Georgia or elsewhere? When is the best time to get business planning done?

There are a lot of hardships that come with being a business owner. It is just part of the joy of building something from nothing. However, some aspects of one's professional life can be made easier by having and following a business plan.

When should a business plan be created? Is it a one and done kind of thing? Business planning is something that one should do before his or her company is up and running, its true, but it is also something that should be reviewed every so often.

Ideas and focus may change. The desire to scale up or scale down may come. The need to adapt to consumer wants may become necessary. In other words, things happen that would make one's original business plan obsolete.

What does a good business plan usually include? There a quite a few things actually. These include:

  • Company description
  • Financial plan
  • Management plan
  • Marketing plan

Not sure how to get started on business planning or need to modify an existing plan? Thankfully, this is not something that potential or current company owners in Georgia have to do all on their own. An experienced business law attorney can help. One's legal counsel can review the goals one has for his or her company and create a detailed plan for how to reach those goals. By following the plan and making adjustments when necessary, company owners can help their businesses flourish.

Source: FindLaw, "Business Plan Overview", Accessed on July 14, 2017

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