Tips

The foundation of your startup is planning to be able to survive even the most unanticipated storms.

Seek investors and partners that offer more than just funding. Oftentimes, money can feel like the center of the startup planning universe. Yes, it’s important. No, it’s not everything. Funding will not mean your startup is successful. Value, however, is a different ballgame. The best things to consider when pursuing a high-value investor are:

Expertise – What is your investor’s background? If they weren’t investors would you consider hiring them? An investor who can offer skilled expertise applicable to your startup is more valuable than any blank check. Never be afraid to check in and ask questions. If you never allow yourself to wonder — the answer is always going to be ‘no’. There are people who have more experience and background in business, so it is smart to fill your friend group with those who have an understanding of this industry. 

Network – Maybe your investor isn’t offering the loftiest amount of cash, but do they make up for it in who they know? Many times, who you know can make you an authority in your market quicker than anything else. Networking gives you the possibility for you to meet with others who share a similar interest, and those who have succeeded in the area you’re venturing into. They can help inspire you into using new ideas and tips to apply to your business.

Resources – When possible, pursue industry veterans who have the resources you need at their fingertips. If they really believe in you, they’ll be glad to share. When it comes to startup investors always go quality over quantity. Use the resources that are right at your fingertips. There are many possibilities for your business to bloom without you breaking the bank.

How is any of this possible? It all starts with the right business plan for your startup. Bargain Business Plans are based on a specific brand focus, driven by clarity your startup business plan will entice valuable investors and high paying customers!

 A business is not something you can do in one night. It takes time to nurture and make it grow. You have to have knowledge on what type of people you want to do your business with, and go through some type of training so you can get accustomed to the business industry. It’s important to have all the correct elements before officially committing and opening a business, so, here are the essentials you must acquire before pioneering your business.

Whether it’s a sole proprietorship, partnership, LLC, corporation, etc., figure out what entity you want to enlist as your business. Most start-up’s and generally businesses, register under LLC as it is the easiest, most cost effective and protective entity type out of the rest. 

Hire Professionals 

Financial professionals make sure everything is in order. Bookkeepers, for example, are responsible for recording ALL transactions made by the business. They produce reports, financial statements, and keep track of them. Whether it’s an accountant, or a CPA, or a tax advisor. No matter how big or small your business is – you need to have a proper financial expert . They advise you in important financial decisions and help prevent negative cash flow. Sorting your numbers is extremely important as 82% of business failures are due to poor money management.

Have A Good Team

Prior to actually setting your organization up, you have to have a loyal team. For instance, you have to already know who is going to be your right-hand man and who is going to handle things such as marketing & design. Creating a diverse team helps your business be seen from different perspectives which aids in its growth. This helps with the prevention of mistakes and mishaps as well.

Create A Social Media Presence

Possibly one of the best marketing strategies out there. Social media puts your business on a pedestal which helps it connect with clients, investors and people who are interested in your company. It helps you stay relevant and have attention directed towards you. Being active on platforms such as Twitter, Facebook, Instagram gives you an advantage of reaching your target audience with ease. The business industry is for those who are ready to take risks and falls. You have to know, study and observe your competitors in detail. Pick your strengths well. This helps distinguish you from the other businesses and make you stand out in the crowd. Consider this as one of the firsts steps in the business world. It is not an easy industry due to its complexity and it’s ever changing speed. For any information, call us for a free consultation! 

Investors for your business will consider quite a few things before they put their money where their mouth is. Oftentimes this includes your team positions, titles, and responsibilities. A track record proving your success, and an awareness of your competitors. Do not forget – the person you are meeting with for investments or loans wants to know how you plan to make the money back, and when you plan to see a return on their investment, so make sure you have not only a good but an efficient outline and set plan for how you plan to do this. 

• Explain why you are different from your competitors. This should be a succinct version of what you hope to accomplish, and the investor or lender may have further questions you should be prepared to answer. Your business plan has many purposes: helping you start your business, attracting talent to help you run and lead the business, hitting milestones along the way.

If you know your business plan..

..you can be ready to answer just about anything that may be brought up. And having your business plan with you can be something to leave behind with them for review, or a handy item to point to when you want to show off your charts, graphs or photos of your products. An investor needs to see a viable, proven strategy for making a significant profit within an allotted time frame. here should be an element of realness that not only attracts the right investor, partners, and consumers–but also a place for you to return to when the going gets rough. A story that reminds you that sales may not always be up, but there is always tomorrow and a way to improve. 

The investor needs to know that they will make a very secure, handsome profit in return for their investment. But also that there is a clearly defined, effective exit strategy in place for them to actually withdraw their profits.

If you’re an entrepreneur with the desire to live and invest in a business in the United States, there are specific methods to follow in order to successfully obtain your visa. The Employment Based Immigration Fifth Preference, better known as the EB-5, is an attractive option for investors who quality.

An application paired with a flawless EB5 business plan can help individuals access the immigration visa and green card program that can ultimately lead to citizenship. Writing a business plan for USCIS immigration officers is not the easiest. In that case, we’ve put together a step by step guide for writing your business plan. 

EB5 Business Plan Requirements

• Minimum investment of $1MM or $500k in a targeted employment area (TEA)
• Investment in new commercial enterprise (NCE) created after 1990 (Regional Center Option created in 1993)
• Investment must create or preserve 10 qualifying jobs

How to Write an EB5 Business Plan

If you meet the requirements for an EB5 visa, you’ll want to construct a professional, complete, and well-written EB5 business plan. Follow this step by step guide for a winning EB5 business plan that will increase your odds of approval.

Market Analysis 

Answer questions like; who would purchase your product? Who are your competitors? Why does the public need it? What purpose does it serve? Your answers are a vital component for the market analysis so your business will be easily understood by USCIS at first glance. Listing detailed descriptions of the surrounding competition will highlight how you will rise above. 

S.W.O.T  Analysis

Describe what makes you unique. Be honest about internal conditions that may need improvement such as heavy debt or obsolete equipment. Describe the outside conditions that prove to be an advantage, such as a specialty niche skill. Last but not least, mention the external factors that you have absolutely no control over.   
When you take the time to do a comprehensive SWOT analysis, you will be armed with a solid strategy for prioritizing the work that you need to do to grow your business. This will showcase your strengths and weaknesses, and how you can leverage those to take advantage of the opportunities and threats that exist in your market.

Job Descriptions

Express how you plan to operate to be profitable. Creating jobs one of the most important pieces of the EB5 business plan requirement. Job descriptions are an essential element for USCIS to understand the roles and responsibilities of each job. A compliant business plan needs to demonstrate that each investment will create 10 jobs through a detailed staffing plan, including a clear timetable for employee hiring.

Financial Projections

Your business plan must be well-documented with financial projections including sales, costs, budgets, and income over a period of five years. All projections must be based upon generally accepted accounting principles and reasonable business models. USCIS needs to see that you understand what needs to be done. 

Writing an EB5 business plan isn’t easy; getting approved for an EB5 visa is even harder. When you undertake the approval process, you are not alone. Partner with Bargain Business Plan for a professional designed business plan backed with USCIS and industry experience. 

Chances are your smartphone is nearly always in your pocket or hand. Most people — especially business owners — have their devices close at hand these days, so they can stay in touch and keep on top of everything going on in their life. If this sounds like you, here are tools and apps you can download to better manage your business, your time and your life.

FreshBooks: Oversee cash flow, expenses, invoices, and more on a computer or phone.

Bank apps: Your bank most likely has an app you can download to view your account and loans through the bank.

Square: Accept payments of a customer’s credit card right on your phone and simply pay a flat 2.75% fee each transaction.

TSheets: Manage employees by tracking schedules, automating timesheets and integrating with accounting software platforms.

Wunderlist: Easily create and maintain multiple lists, share them with others, assign mini-tasks, give deadlines and set reminders.

Pocket: Save articles you find interesting so you can read them later (maybe on a Sunday morning or an evening where you have some downtime).

Toggl: Track clients and projects while you manage billable hours in this time tracking app.

Slack: Communicate with your team anywhere, any time with this instant messaging platform.

Join.me: Host video conferences on their free plan that lets you invite up to 10 video participants, share screens.

Boxmeup: Track packages, containers and other bulk storage items.

Get help getting started with your business from our experienced business plan experts. Get a free consultation today to learn how we can help.