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Although a guide to writing a business plan is being made available here, circumstances vary considerably and you will need to tailor your business plan depending on the type of business — technology, manufacturing, service or retail. The executive summary is the MOST vital part of the business plan — it has to sell your strategy for success to the investor.The summary is an overview of the entire plan and must contain the highlights of the business plan and summaries of each section.Using Google Docs or Excel are probably the most convenient ways of keeping track of your income and expenses, since both are quite accessible on the web or pre-installed onto laptops and tablets.
Once you have made your decision, ensure that you have a written agreement with your Accountant setting out your mutual requirements and expectations.
After that it's a matter of establishing a personal relationship with your Accountant.
Remember that he or she can be a invaluable asset to your business.
Specific attention should be given to four key areas: the business itself, the management of the business (the entrepreneurs involved), the market in which the business operates, the financial management, and planning – the risks and rewards associated with the total investment in the business.
Here are some suggested items to include: Business information & Background Business contact details, names of owners/directors/shareholders and their ID numbers plus all registration numbers if available (SARS and CIPC). A great example is Bill Gates who wanted see a personal computer in every home.
A Mission statement on the other hand is a summary of how you are going to achieve your vision.
Include a step by step specification of how you intend using the social and print media for this purpose.
Budgets A financial plan is a pivotal point for a business plan and as such you need to spend some time on this section.
Smaller Accounting firms are more affordable, but could offer restrictive services.
Whatever your choice, it's a good idea to meet with your prospective Accountant(s) in person before appointing them.