Business Plan Basics
Here's a list of the documents to consider.
Compiled by staff
Published: Apr 13, 2009
Finance and Managerial consultant Jerry Moss has developed business plans for countless farms and other businesses. Here's a look at specific areas of a 2009 business plan that helps identify opportunities as well as manage risks:
Section A: Current Financials
-Year-end balance sheet & support schedules including receivables, year-end '08 prepaids, machinery & vehicles list, supplies, land holdings details
-'09 Projected cash flow including taxable and non tax outflows, operating line balances; enterprise budgets' support data, '08 actual financial comparisons
-'09 Capital budget including timing and discussion
-Twenty-year financial history
Section B: Management Direction
-Management Organizational Charts for all or multiple corporations
-2009 Mission statement and business objectives
-Daily management focus and directives
-Summary of '08 business operations
Section C: '09 Game Plan
-'09 plat and field maps and crop plans
-'09 marketing plans
-'09 livestock contracts
-'09 manure management plan
-'09 farm management properties
-'09 hunting contracts
-'09 off-farm income summary
-'09 schedule family living expenses
Section D: 3-5 Year Plan
-Historic enterprise profit comparisons vs. projections
-Enterprise expansion and diversification
Section E: Legal and Accounting
-Estate planning documents/directions
-Life insurance policies
-Tax returns
Section F: Ownership Updates
-Resumes
-'08 Personal Achievements
-Pictures
You can reach Jerry Moss at jmmoss@adams.net
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Tagged: farm, insurance, legal, accounting, estate planning
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