Business & Employment Law Attorney
866-693-5541 | 303-424-4286

The importance of a business plan for funding in Colorado

A number of individuals who have great ideas for new products never obtain the funding they are seeking. One reason for this may be that they have created workable product plans but not full business plans. In reality, both are essential parts of starting up a successful organization.

Generally speaking, a business plan should tell someone not familiar with a business how it will run, and it will go over a wide range of things. Good plans should cover things like funding, financial projections and business strategies. These plans should also include some information about market competition and how this business' product is better or more attractive than ones made by other organizations.

A product plan, on the other hand, is generally designed for individuals already familiar with a particular type of product. It may include technical terms and jargon, and it is generally designed for in-house people who will be responsible for creating, marketing or selling the product. Things that a product plan will include are the benefits a product will need to provide as well as descriptions of features and technology that the product will take advantage of.

If someone is interested in starting a new business, they may need a solid source of funding. Funding allows businesses to do needed research, obtain materials and hire individuals who can help them succeed. While funding can be helpful or even essential, finding it can be a struggle for many entrepreneurs. A lawyer may be able to assist an individual in obtaining the funds they need to start their business. Furthermore, lawyers could also help individuals by drawing up a mutually beneficial agreement between investors and those seeking capital.

No Comments

Leave a comment
Comment Information
  1. "I used the Bryan E. Kuhn, Counselor at Law, P.C. team to help me with a case. They were always professional, upfront, and positive providing guidance while keeping me informed."
    - L.H.

  2. "Everyone at the firm was professional, responsive and courteous. Kate was exceptionally knowledgeable and responsive and she helped me to achieve the desired outcome. I would definitely recommend this firm if you are in need of superior legal assistance."
    - J.S.

  3. "Bryan and his law firm operate with great professionalism and personal touch. I appreciated the way he and his team offered transparent communication."
    - N.S.

  4. "Kate & team were very professional in helping me to get through an uncomfortable ADA situation at my workplace. This was a very good legal experience. I would recommend Bryan E. Kuhn & team to anyone who needs work related legal help."
    - D.L.

  5. "Bryan, Katie, and all the staff in this office are super fast to respond, expert in their fields, and always helpful. We have been extremely pleased with their services for our small business."
    - T.Z.

  6. "Working with Bryan was amazing. His professionalism made a very stressful and difficult challenge as positive as possible. A great lawyer"
    D.K.