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Step 1: Determine the Legal Structure of Your Business: Gather and Analyze Information
You go to your office to begin the task at hand—the preparation of a narrated PowerPoint presentation to potential investors that will address all of the issues involved in making this decision. For critical background information, see Creating Sunburst: Legal and Organizational Considerations. You will need this information to make the best legal and organizational decisions for your business.
Since one of the investors will not be able to attend a presentation in person, you need to prepare and record a narrated PowerPoint, so she can listen at her convenience. In order to complete this task, you realize that you must do some research to address the legal and strategic implications if your business is to get off the ground.
What types of business organizations are available to entrepreneurs?
What are the advantages and disadvantages of each alternative?
What are the two best choices and why?
How would you explain your choices to your investors?
Be sure to discuss the following information in your plan (refer to Legal Forms of Business before you begin writing):
What are the different legal forms of business that you might consider? You remember that there are at least six factors that will influence your choice:
creation and maintenance
ownership and control
compensation and division of profits
What is your proposed choice for the legal form of business? Include your reasoning based on the preceding six factors and any other relevant factors.
When your research is complete, continue to the next step, in which you will create the Powerpoint presentation for your investors.
Step 2: Prepare Your Presentation
Using the information you gathered in the previous step, prepare a narrated PowerPoint. Because you will not deliver this presentation in person, it should follow the form of asynchronous presentations. Be sure to meet the following requirements:
Include a title slide, with your name on it, introducing the presentation.
On the presentation slides, include only the major bullet points for each issue.
Include no more than 15 slides (not counting title page or references list).
Cover all the elements of your plan as outlined in Step 1.
Use your narration to provide the supporting rationale for each major bullet point.
Include a script of your narration in the notes section of PowerPoint.
The final slide must present a clear summary of your major conclusions and any recommendations.
Include a reference page in APA format citing any sources you used to develop your presentation.
Title your files using this protocol: yourlastname_Business Form_date.
When your presentation is complete, continue to the next step, in which you will gather information about the potential organization structure for your business.