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The Importance of a Well-Drafted Business Plan in L1, E2 and EB5 Visa Matters

The United States government expects to see a well-drafted business plan as support for applications in both the E Treaty Visa category and the EB5 Immigrant Entrepreneur category. Additionally, USCIS often kicks back a request for a feasibility study in L1 “New Office” petitions, which is something that is normally included in a well-drafted business plan. Hence, it stands to reason that inclusion of a well-drafted business plan is essential as supporting documentation in an L1 “New Office” Petition.

As evidence of the critical importance of a well-drafted plan is the fact that the United States government frequently denies L1 visa, E2 visa and EB5 visa petitions and applications due to their lack of a plan that is both comprehensive and credible.

Business plans that are not comprehensive and are more in the nature of a summary or overview of the business are generally not acceptable for L1 visa, E2 visa, and EB5 visa purposes. Instead, in any one given case the United States government expects to receive and review a quality product that, at minimum:

a.) Fully describes the enterprise, its products and services;

b.) Analyzes the market in detail, including potential customers and competition;

c.) Outlines a marketing strategy;

d.) Projects sales, costs, and income over a period of 5 years, showing the basis for these projections; and

e.) Presents complete details regarding the enterprises organizational structure, including complete job descriptions and a staffing timetable.

In short, the United States government expects to see a business plan that is as comprehensive as one that would be presented to a bank for purposes of seeking funding. Therefore, it is strongly recommended that one seek the services of a professional who is familiar with the relevant immigration regulations to draft ones plan if one hopes to stand a strong chance at success in an L1 visa, E2 visa or EB5 visa petition or application.

When selecting the right firm to draft a visa-specific business plan, a company or investor should seek out a firm that possesses both experience in the writing of bespoke business plans as well as the appropriate legal expertise to tailor the plan to the specific requirements of the L1 visa, E2 visa or EB5 visa categories.

To ensure that all the required elements of a well-drafted business plan will be covered to the satisfaction of the United States government, the company or investor should satisfy themselves that all of the following services will be covered by the fee that they will be paying for the business plan writing service:

a.) Setup of business plan according to target visa category;

b.) Gathering of information and documentation regarding company ownership, objectives and mission;

c.) Working with business owner to determine concise statement regarding company’s success formula;

d.) Work out with owner the visa-appropriate management and staffing plan (i.e., executive/management mix for L1 visa; marginality avoidance for E2 visa; creation of 10 full-time positions over a 2-year period for EB5 visa;

e.) Draft an easy to read service summary;

f.) Collaborate with client to create feasibility study, which covers target market, customer/client potentiality in geographical area (with growth projections), and competition analysis;

g.) Gather financial information to draft financial plan and Tables, including Start-up Summary (as applicable), Sales Forecast, Operating Expenses, and 5-year Projections.

Once the business plan has been developed into its penultimate draft, it should undergo a final review by the responsible immigration attorney to secure an opinion as to the viability of the plan, from a financial perspective. (Obviously, if the responsible immigration attorney is drafting the business plan, his or her opinion will be rendered simultaneously with the creation of the penultimate draft.) Once the responsible immigration attorney has rendered his opinion that the plan is fiscally viable, the plan can be finalized and signed off for inclusion in the visa application package.

How To Get Leads and Prospects For Your Home Business

The problem with the home based business industry is that we have been, and continue to be, taught terrible principles of entrepreneurship by many of the leaders of these different MLM companies. These people only speak the company rhetoric and no real business ownership principles. So, lets get into some entrepreneurship principles that can help you.

Principle #1 – You must advertise

This is not an option. And I’m not talking about to your friends and family. Advertising is a fundamental principal that if you adhere to it, you have no choice except to garner leads, prospects and customers if you do it consistently. So what’s your advertising strategy? I know you are taught to utilize the ‘friends and family’ strategy but that works for 1% of the network marketers out there and it’s not enough to make any real money in this industry.

Principle #2 – Diversification

If you have a home business, you are probably taught to contact your friends and family about your business opportunity. That has become the norm for advertising your home based business. Advertising has undergone a tremendous revolution in the last few years and any smart business owner needs to be aware if they want to build a large organization from home. Guess what? Contacting your friends and family are NOT on the list of secrets.

The smart entrepreneurs that I mastermind with realize that this is crucial to creating a solid, everlasting business. Being a former financial advisor, I know this all too well. I taught clients not to keep their eggs in one basket. Even though it’s cliché-ish, it never been more true. Most people live by the “Single Point of Failure” rule, meaning if one specific thing was to happen it could destroy your business. The smartest and most successful business owners diversify their income and businesses. Most entrepreneurs don’t spend time on just one source of traffic. For example, there was a guy who sold travel packages. He would fax coupons and deals to, seems like, every fax machine in the country. He made a lot of money just faxing things. Well, the government stepped in and outlawed fax broadcasting. For every unsolicited fax, that was a fineable offense. Overnight his business was over.

The more sources you have for your prospects, the more stable your business is going to be for the long term. Entrepreneurs that diversify well know they will have a steady stream of business now and in the future.

Now, for this reason I want to tell you about the importance of the internet. There are a multitude of ways to get new prospects on the Internet but the key is to put yourself ahead of the pack. You have to learn the newest strategies, newest skill-sets, and the cutting edge information before the masses get a hold of it. In order for this to be prosperous for you, you have to stop thinking like the ordinary home business owner and start thinking like the true entrepreneur.

In the coming series that I am doing on internet advertising, I am going to go into detail on the 5 ways to get massive traffic and leads from the internet. Stay tuned and subscribe to this as my goal is to give pure content and value to help you grow your home based business.