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Medical Marijuana Business Plans—Are Essentially The Same As Any Other Business Plan.Due to the changes in state laws, medical marijuana is becoming a new and profitable industry. However, at its core, it is still a business with many of the hurdles that every new business faces. And a good, well thought out business plan will increase your company’s chances of survival. Generally, there are four important elements to include in a medical marijuana business plan—Please note that the type of business plan described below is geared to attracting investors.First is the Executive Summary. To begin with, each and every business plan has to start with an executive summary. Good business plans start with an executive summary that’s short and to-the-point. This is where most of the prospective readers will decide whether to read on or throw it away. Basically, the executive summary quickly describes the overall business plan and should be no more than two pages long.Second is the Market Opportunity. What you need to include are the reasons that there is a market for the businesses customers. Describe the size and growth rate of the market as well as the risks the business will inevitable face. This section is important because investors will get to see how much of market share is actually available for the taking. If there is no market they might as well stop reading.Third is the Actual Execution Strategy. Here is where you outline your revenue streams and operational costs. Specify the assumptions you’re making, and why you’re making them. Your day-to-day operations will also be included in this section. The plan will also need to describe compliance with applicable state laws before your company can legally operate. It is important to insure your reader that you have competent legal counsel to assist your company in complying with the many laws and regulations this industry faces.Fourth are the Financial Projections. Every small business relies on cash flow. Poor cash flow is the biggest reasons start-ups fail. Large profits do not guaranty a company’s survival if it lacks the liquidity to pay ongoing expenses. Business plans generally are expected to include three years of forward-looking profit-and-loss reports, cash-flow statements, and balance sheet projections. These numbers should not be “pie in the sky” projections. Straight forward and real-world financials are always preferable to ones that are too outrageous in their sales and market shares.Before you write any business plan you should have a clear understanding of the legal issues you will inevitably face. At LawTrades, our attorneys have experience in working with entrepreneurs who specialize in this new industry and have successfully helped other startup companies comply with the complex maze of business and regulatory hurdles you will face should you decide to move forward with your new business. Our legal projects are backed by a satisfaction guarantee, 24/7 support, start-to-finish project management, and flexible payment options.

I am talking with reference to the construction Industry in India.If you are an Indian, and your job is at site, and you are totally involved in construction, you need not know the details of the Finite Element Method. It is an analysis tool, not a construction tool.Just for general knowledge, have an idea of what it is about. Leave it to your colleagues in the Design office to know the theoretical details and the have the necessary software skills and know how to model the structure, what kind of elements to select, what properties to assign, and how to set up the boundary conditions and choose the type of loads, and their locations and magnitudes and define the various load combinations, crunch all those numbers in a computer and interpret the output, finalise the sizes of the members and issue the necessary drawings to the site.As a site engineer, it is more important for you to be able to read and interpret drawings correctly, make field sketches, be thoroughly familiar with the code stipulations and with all the technical specifications for the project, and details of the contract’s terms and conditions, know about the capacities and capabilities of various contractors, sub-contractors, know the details of the various equipment they possess, be aware of the time schedules, know the sources of supplies of all materials and their prices and the lead times required to order them, manage inventory at site efficiently, have man management skills, plan manpower deployment, be able to anticipate site delays and difficulties and prepare for them, know Project Management software like Prima Vera, and know how to make up to date progress reports, be a power user of spread sheets, word processors, and presentation software, be internet savvy, carry out inspections, preliminary and final acceptance tests and have a reliable data base of all this information collected by executing the project, to aid you in future projects.There is plenty of work for you at site that is broad based, and commercially much more valuable and important. Remember, Design involves less than 5 percent of the cost of the project. The rest is material and execution costs. Don’t distract yourself thinking about Finite Element if your career is at site.Of course if you want to abandon a career at site and be in design office, or enter the world of academics, then you can think of investing your time and effort to know more about FEM.All the bestGV

As someone who has studied accounting and finance at University level and has been an entrepreneur for over 25 years, I would say that an entrepreneur needs to be very conversant with the concepts and application of Management Accounting and basic finance but should leave Financial Accounting and funding to the experts (i.e. Chartered Accountants or Certified Practicing Accountants)Financial Accounting and funding:Produces a limited set of specific prescribed financial statements in accordance with generally accepted accounting principles (GAAP). These are generally audited financial statements and include the Balance Sheet and Income StatementThese reports generally target external stakeholders (i.e. banks, suppliers, Tax departments) who have an interest in the enterprise, but who are not involved in the day‐to‐day operations of the business.The emphasis in financial accounting is on summarizing the objective, precise and verifiable financial consequences of the firm’s past activities and decisions.Funding can involve applying for debt funding via bank loans and leases or preparing a prospectus to attract equity funding.Management Accounting and basic finance:Management accounting deals with information that is used for internal decision making only.These reports are far more detailed than those for financial accounting; they can cover performances and activities by departments, products, customers and employees.The emphasis of management accounting is on the measurement, analysis, communication and control of financial and non‐financial information.Management accounting is primarily interested in helping the organisation’s department heads, division managers and supervisors to make better decisions about the daily operations of the business—in particular, those relating to planning and control decisions.Management accounting relates to budgets (i.e. profit and cashflow) that help to promote more efficient and effective planning; they also help to organise resources, direct personnel and motivate staff, as well as being useful ‘tools’ in performance evaluation and operations control.Unlike financial accounting, there are no external rules for management accounting. The emphasis in management accounting is on making decisions that affect the future.Reports are delivered frequently and in a timely way to meet the needs of management. Most reports are analytical, and emphasize variations in the key indicators that monitor the financial performance of the business unit.Basic finance includes an understanding of key accounting/finance elements like revenue, expenses, assets, liabilities, equity, gross/net profit, cashflow and profit forecasts, pricing, breakeven analysis and cost of funds.Here is a comparison between the two. Entrepreneurs should do all they can to understand management accounting. I don’t believe it is something that should be outsourced to anyone else, especially cashflow forecasting and pricing.