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Business Plan Paralysis
HoPeS
subscriber Posts: 1
Hi everyone!
I`m halfway through my business plan and I have suddenly gotten paralyzed. Please give me advice on how to handle these.Should I have the financials (cash flow, forecasting, etc.) reviewed by an accountant or would my personal computations be enough?I`ve developed an affiliate program that I believe is unique. Is it necessary for me to get a patent or a trademark? Who do I ask advice for the details of this?My business is currently a sole proprietorship. I have been advised by a lot of people to change my business structure into a corporation. I would really want to have it incorporated but I can`t seem to get people to become business partners. Someone advised me to get "dummy" incorporators just so that I can have a corporate business structure. However, my readings (from your site and others), along with my gut, tells me to get people who can really help in the growth of the company. I`ve invested a lot of time and money in it already and I`m afraid that when I try to get "incorporators" I would lose control of the business and my vision for it won`t be achieved. I don`t have any plans of selling it in the future for quick cash. Could you shed some light on how to move on to a corporate structure correctly?Should I have a lawyer draft the articles of incorporation, by-laws, etc? Or should I be the one to draft it and just have it checked by them?I would like to show my business plan to angel investors. But I feel boxed in because all angel investors are from outside my country (My business is based in the Philippines). Is it ok to present my business plan to them?I have mentors who have guided me throughout the whole process of my business development. Would it be ok to ask them to become investors also? Or is it better to make them part of an advisory board?
Thanks a lot for a great website for startups!
I`m halfway through my business plan and I have suddenly gotten paralyzed. Please give me advice on how to handle these.Should I have the financials (cash flow, forecasting, etc.) reviewed by an accountant or would my personal computations be enough?I`ve developed an affiliate program that I believe is unique. Is it necessary for me to get a patent or a trademark? Who do I ask advice for the details of this?My business is currently a sole proprietorship. I have been advised by a lot of people to change my business structure into a corporation. I would really want to have it incorporated but I can`t seem to get people to become business partners. Someone advised me to get "dummy" incorporators just so that I can have a corporate business structure. However, my readings (from your site and others), along with my gut, tells me to get people who can really help in the growth of the company. I`ve invested a lot of time and money in it already and I`m afraid that when I try to get "incorporators" I would lose control of the business and my vision for it won`t be achieved. I don`t have any plans of selling it in the future for quick cash. Could you shed some light on how to move on to a corporate structure correctly?Should I have a lawyer draft the articles of incorporation, by-laws, etc? Or should I be the one to draft it and just have it checked by them?I would like to show my business plan to angel investors. But I feel boxed in because all angel investors are from outside my country (My business is based in the Philippines). Is it ok to present my business plan to them?I have mentors who have guided me throughout the whole process of my business development. Would it be ok to ask them to become investors also? Or is it better to make them part of an advisory board?
Thanks a lot for a great website for startups!
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