Digital evidence cases involving divorces Business plan

Digital evidence cases involving divorces: Business plan

Name

Institution

Writing an acceptable business plan

A business plan is an important too in winning support for a business idea and can be used win the support of investor and financiers. As Abrams & Kleiner (2003) note, financier bases their calculation of viability of a business on a business plan. In my case a business plan will be important in helping set up a digital unit for forensic research for divorces. To develop an appropriate business plan I will take the following considerations into account.

First, I will consider the business legal structure. Developing a legal structure for the new business won’t be a problem since the new business will be a subsidiary or a department of the existing business. There I will seek to suggest the new venture as a sole proprietor with the law firm as the owner.

Second, I will suggest a business structure for the business in the proposal. This will include the deliverables or the service and good the business will deliver to the customers. I will also state the best location for the business and how it shall be managed. In the plan I will suggest a management structure to run the venture and employment needs stating the necessary number of employee that are required to run the venture. The employee need section will state the qualification of the managers and the employees as well as their responsibilities and remunerations.

Next I will provide a market analysis o f the services and products the business is going to offer. I will analyze the competitor and their strengths, nature of the market, and to approach the market through price and advertising. Product design is a critical component for marketing a product, and this section will provide adequate advice on the product design for our service and goods. As McKeever (2004) asserts, knowing the market can help an entrepreneur understand how to make the best out of his business. For a new business the investor can determine whether the idea is viable or not.

In the last section of the proposal, I will provide a financial analysis of the business suggested by the plan. This will include financial needs of the venture and financial source that can fund the venture. I will also provide financial projection such a three-year income projection, cash flow statement, and break-even analysis.

Research will be important in helping get all the necessary information for the plan. As Covello & Hazelgren (2005) note, research can be used to provide insights into various element of the business such as the market and competitors. In this regard, research will for the foundation for every part of the plan.

References

Abrams, R. & Kleiner, E. 2003. The Successful Business Plan: Secrets & Strategies. Palo Alto, Calif. : The Planning Shop.

Covello, J. A., & Hazelgren, B. J. (2005). Your first business plan: a simple question and answer format designed to help you write your own plan. Naperville, IL: Sourcebooks.

McKeever, M. (2004). How to Write a Business Plan. New York: Nolo