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 >
A Roth 401(k) retirement plan is similar to a regular 401(k) plan, but with the timing of the plan's taxation representing a significant difference. The traditional 401(k) plan requires before-tax paycheck contributions with no tax liability placed on the earnings until funds are withdrawn. The Roth 401(k) plan requires after-tax paycheck contributions, but the withdrawals are tax-free.Full Answer >
To make a withdrawal from a 401(k) retirement plan, borrowers must contact the human resource office of the employer or the investment company hosting the plan, complete a withdrawal form and provide reasons for the withdrawal if younger than 59 1/2. Fees may apply when withdrawing funds early.Full Answer >
Individual contributions to a 401(k) should be the maximum amount allowed, enough to get the highest match from an employer, the plan's default rate, or the calculated amount that is needed to retire in financial comfort, according to U.S. News. If unsure as to what contribution amounts are necessary, an individual can also consult a financial adviser for assistance. As of the 2015 guidelines, the IRS notes that those saving for retirement through a 401(k) plan can contribute up to $18,000 for the year, with individuals who are age 50 or older able to contribute an additional $5,500 in "catch-up" contributions as necessary.Full Answer >