Business Plan Section Draft – Financials
Now that youve had time to think about what Business you want to start or grow, its time to analyze the Economic factors and trends that surround your Business. The sections that I want you to complete by September 25th are to develop a Start-up Budget, Financial Projections, and a Projected Cash Flow Statement for the next two years. Please complete the following Excel Financial Spreadsheet I use to help my clients obtain Capital. Here are the instructions:
The Excel document walks you through the process of projecting your start-up costs, expected revenue and expenses, and cash flow needs for the next 24 months. The Excel spreadsheet has formulas throughout the document so please only complete the blank cells (the cells with color contain formulas so youre advised not to touch these). Remember, it’s only a projection so it doesn’t have to be 100% accurate, but Id like to see a realistic projection based on realistic numbers. Therefore, think about what would be your average sales every month (they’re usually different depending on your industry and the season) and then include all the expenses associated with those months. Remember to also include Assumptions in the first tab explaining where you obtained your numbers.
Here’s a video explaining how to complete the spreadsheet. I also use this spreadsheet for my Managerial Accounting Class so ignore any comments I make about this class.
Email your excel file directly to me. I prefer Excel but if you don’t have excel, you can transfer the file to Google Sheets; just make sure all the formulas transfer.