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Free Life Insurance Business Plan
If you are starting a Life Insurance business then it is wise for you to put pen to paper a Life Insurance business plan. If you want money for your company this will help you with it and even if you are fortunate to have an adequate amount of funds to start-up your own business then a business plan will be of assistance to you in your business strategy. This will boost the likelihood of your business being a hit, which cannot be a bad thing.
Your plan ought to consist of the following...
Life Insurance Executive Summary
Your Life Insurance executive summary should be written at the end (even though it should show first in your plan) subsequent to you having done all the ground work in preparation of your business plan - it is after all intended to be a digest of your business. This is the page that ought to grab the awareness of the reader and make them comprehend what your Life Insurance business is concerning. By and large it should present the reader 3 years highlights of your business or longer if you carry out a more long term business plan - i.e. when the backer(s) are liable to start seeing some proceeds on their investment. The Life Insurance executive summary ought to declare the chief leading roles who are available to help run the business and produce the proceeds for the investors and if any new management will be required in the process. Click here for more free advice on how to write your executive summary.
Life Insurance Objectives
As the executive summary typically includes the breakdown of the first 3 years - your objectives should also be set out for your first three years of operation - this can be a small number or may perhaps be much more detailed - it's wholly up to you, on the contrary having unrealistic goals to reach for your Life Insurance business in an unrealistic timeframe will put likely investors off rather than them being impressed at your grand objectives.Read more about business objectives.
Life Insurance Mission
A number of people see objectives and mission as identical things but they aren't - objectives are there for you to meet your mission. The final mission of any business should be to get bought out! If you can build your Life Insurance business up to sell it whilst retaining a number of shares then you will have achieved success. To accomplish your fundamental mission you will probably need several smaller missions - these may be to attract a certain turnover, to reach a certain amount of customers, to retail a certain amount of units of a product or service and your objectives are there to meet this mission.
Check out some of these example mission statements before you have a go at writing your own mission statement.
Keys to Success
You need to tell people how and why your Life Insurance business is going to be a success - if you cannot think of something to write here then you are without hope. Even if your response is simply that you are going to work harder than the next person - then at least that is something...but you'll need to back it up with some confirmation in particular if you are looking for investment in your Life Insurance business.
Company Summary
Here you ought to compose a basic configuration of your business over the next 3 years unless you have a long term plan.
Company Ownership
Basically write who is going to own the Life Insurance business and allocation of share ownership and voting rights for and allocation of share ownership and voting rights for those shares - it's quite common for somebody to own part of a business but hold no voice in how that company is run. You must reveal if the business is a limited company, private, public or if you are a one man band.
Not sure which business structure to go for?
Location(s) and facilities
Where is your Life Insurance business going to be trading from and why are you going to be trading from this spot - you may well not be able to give a pinpoint address at this early stage but you ought to narrow it down as much as you can, as clearly this will have a major effect on your business. It is generally simple to get premises for any Life Insurance business particularly in this climate with so many businesses folding, but getting the correct business premises for the right money is a different prospect entirely.
Read more about business premises.
Start-up Summary for your Business
Before you start trading it's a good idea to have a business bank account and you are also going to have to choose a new name for your Life Insurance Business.
Before you can sell any products or services you ought to record precisely all of the things you are going to require and if you are going to need any capital in order to pay for all of these items. You may possibly need to adapt your start-up summary depending on your financial position - so you may desire certain Life Insurance equipment although not be able to have the funds for it until you have sold a few units of service / product.
Life Insurance Start-Up Costs
This is a basic list of things you need to buy and stuff you can bring into the company if you previously have possession of them before your Life Insurance business can begin working. If you do not have sufficient cash you should also incorporate who is going to make available this wealth to get your Life Insurance business going.
Visit this page for more typical start up costs.
Life Insurance Investment
If you do not have sufficient money you should bring in the total investment you are going to require and furthermore include the breakdown of the parties that are going to fund the investment. Take account of the equity being given away to fund this or loan agreements in order to finance the arrangement. Will you require a small business bank loan? If you cannot get a bank loan don't worry there are alternative methods for funding your Life Insurance Business.
Life Insurance Business Plan Page 2
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