In order to write a successful 5-year business plan, designing a good tactical plan with an executive summary and good products is necessary. It is also always a good idea to include the management team and the projected financial analysis for each year.Know More
A business plan includes many factors, especially if projected to cover the next 5 years. A 5-year plan is the most common to present to possible investors.
What is the vision of the company? Outline the goals to be met and the strategies to be taken to reach those goals. What type of marketing and advertising will be used? The company mission and values must be included here.
This portion must be written to include achievements and relevant experience of the ones in charge of the business. This section is to let investors know they are placing their money with experts in their fields, and should include strategies and objectives.
Advertise what is so great about your management team. This is the "resume" to show off skills and knowledge for everyone involved.
Be sure that the product(s) in the business plan are something that is wanted and can be shown to have a steady demand or increase over the next 5 years.
Having the projected financial statements like balance sheets, income statements and cash flow estimates is very important.
Marketing mix is a marketing technique that focuses on the four different choices that a business looks at when determining its plan to market products to consumers. The four choices, also called the four P's, are product, place, price and promotion.Full Answer >
Catch-up 401(k) contributions for people over 50 are treated the same was as other employee contributions to the plan; the money is not included in taxable income for the year, according to Zacks.com. However, if a catch-up contribution is made to a Roth 401(k) plan, it won't be pre-tax.Full Answer >
A plan holder can make periodic or complete withdrawals from a Fidelity 401(k) fund if the individual meets the eligibility criteria for such withdrawals, according to Fidelity. However, early withdrawals before age 59 1/2 result in a 10 percent penalty on the distributed amount and are subject to taxation, according to the IRS.Full Answer >
Valid reasons for a hardship withdrawal from a 403(b) retirement plan include medical expenses, education expenses, funeral expenses, purchase of a primary home, repairs to a primary home or payments to prevent eviction from a primary home, reports the IRS. Purchase of personal property does not usually qualify.Full Answer >