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001 K Plans For Small Businesses Publication Business Plan Page 4

001 K Plans For Small Businesses Publication Business Plan Page 4 Unusual 401 4222 401(k) (publication 4222)

Here are the steps you would need to take. First, you would need to know all your current business numbers. This will be the basis for the plan. You're going to need to know: 1. What your current average monthly sales are 2. What your current average monthly material cost is 3. What your current average monthly labor cost is 4. What your current average monthly fixed expenses are 5. What your current average monthly variable expenses are 6. What your average number of transactions per customer per month are 7. What your average dollar sale per transaction is 8. What your average monthly profit is 9. What your average monthly profit margin is 10. And what % capacity your business is at right now Second, decide what you want your salary to be Third, determine how many years in the future you want to plan for Fourth, you will need to know: 1. What % is your material cost of sales? 2. What % is your labor cost of sales? 3. And what % is your variable expense of sales?

Contextualise Your Budget _ Of course your budget will be extremely important. But sometimes people sort of pluck figures out of thin air, not giving it the context it needs in the business plan to make real concrete sense of how that budget is going to work. So it is crucial that every time you mention financials in your business plan, to really give them the correct context. When I have worked with clients in developing business plans, there has been a budget or amount set aside for example to be spent on marketing, which has been decided a bit arbitrarily. I mean with no real research, no understanding of what that amount needs to be spent on, and what that budget will truly achieve. It seems to have been put there to fill the need to attribute a certain sum to marketing. Make sure you are researching each point of your budget, make sure that you are giving it context and it makes proper sense within your overall plan.

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004 Business Plan Page 14 K Plans For Small Businesses Publication Unusual 401 4222 401(k) (publication 4222) 320

004 Business Plan Page 14 K Plans For Small Businesses Publicatio

001 K Plans For Small Businesses Publication Business Plan Page 4 Unusual 401 4222 401(k) (publication 4222) 320

001 K Plans For Small Businesses Publication Business Plan Page 4

003 Business Plan 46574n05 K Plans For Small Businesses Publication Unusual 401 4222 401(k) (publication 4222) 320

003 Business Plan 46574n05 K Plans For Small Businesses Publicati

002 Page 8 Ks For Small Businesses Publication Business Unusual 401 K Plans 4222 401(k) (publication 4222) 320

002 Page 8 Ks For Small Businesses Publication Business


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401(k) plans for small businesses (publication 4222)

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