You probably like many entrepreneurs you think the most important thing when creating a company is to have the capital resources to do so, and that’s why you do not dare in any way to start your project, with a damning end you have to lose all momentum and drive to achieve original purpose, that is your business idea into your business.
Since this is really wrong, because if you do not have full clarity on how much capital you need to start a business plan, because as you can go directly to prospective investors, financial institutions or support a business entity, when you do not even value of the dollar Your project is what you need, most importantly, do not have a business plan.
Then, unfortunately, with a focus on money, make no doubt the left side, much more important aspect is important when starting your business. For example, one of which is the Market Study, which tells you who you would give your service or you will sell your product. This market is finally standing real value of your project without this market does not make sense of your business idea.
In addition, by focusing on money, please put aside the most appropriate knowledge and technology needed for your production process, not knowing what is the latest in the manufacturing process is being done at this point to global, national or local. If you do not do technical studies.
Also, focusing on money please put aside the research team who will accompany you in the process of creation and consolidation of the company. Who are your potential partners? Where are the partners?, Does the profile have to have a partner? You have not found that the profile of your employees needs what skills or abilities needed by staff to meet the goal? How much they pay? How is the contract? What will the organizational structure of your business, how the law will shape this new business? What tax and legal implications of this legal? If you have not done study of administration, organization and law.
And if eventually you are so worried about money, well now let’s talk numbers: Do you know how much benefit you even, “And to set the cost of production or service provision, do you know the cost of your variable? How many employers are hiring, what who should pay taxes? What is the balance sheet, what is a statement of retained earnings? What is the internal rate of return on your project, what is the net present value you would expect, is cash flow? What is the projected sale of the project?, and finally what the expected profit for the first year of this project?. That is, you have not done financial studies.
Why is time so important to not focus first on this money? Since you have much, much, much to investigate before it is safe to know how much capital your business needs.