• Find low-cost ways to advertise and deliver your product.• Determine what business entity works best for your business (LLC, S-corp, sole proprietorship).
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• What compensation/pay is given to you and your employees/partners?
• What purchases and expenses can you defer until after the business begins?
• Devise marketing methods that negate your competitors’ strengths and take advantage of their weaknesses.
• Develop several different advertising approaches to be tested.
• Review your business plan and make changes as needed.
• Prepare an executive summary for the business plan. It keeps you focused on goals through visualization, and makes sure you are organized and don’t miss opportunities or required actions in operating your business.
Then prepare projected financial statements for three years based on these estimates.
• Write down the results of the preceding action steps.