All too often I get a phone call from a new business. They have already incorporated - usually in Delaware -, have transactions in several states, and are now starting to worry a year later about taxes and accounting.
That’s not a particularly good way to start a business. In the case above, the client had already set things in motion and in stone that had to be fixed. A little planning up-front would have saved them aggravation, time, and the expense of having a CPA clean up.
The best way to plan is to write a business plan.
Now, whenever I mention this to new clients they usually roll their eyes at me. The gesture is intended to convey the notion that a business plan is a royal waste of time. It takes away from the real business at hand, which is to generate sales and get the business growing to where their original vision pointed.
A solid business plan is the best tool to help you achieve your goals. And that is for a very simple reason: it’s your road map.