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Business Plan Tutorial: Step 9 Financials

The Financial Plan

What are the required resources you will need for your company? 

Project out monthly financials for 3 years to give a realistic overall picture of each of the following: 

  1. Income Statement
  2. Balance Sheet
  3. Cash Flow
  4. Capital equipment and supply list
  5. Breakeven analysis
  6. Assumptions upon which projections were based
  7. Projected range of sales (Bygrave, William D. (1994). The Portable MBA in Entrepreneurship. John Wiley and Sons. page 154)

 Questions you should answer within your business plan:

  1. How much money do you need?
    1. When will you need money?
    2. How many customers do you need to break even? What percentage of your target market is that?
  2. When will you break even?
  3. When can you expect to start to pay off investors?

The Financial Plan - Print

Start with the RMA Annual Statement Studies resource; however, if you cannot find your Industry classification code in the RMA source, try using Industry Norms and Key Business Ratios or Almanac of Business and Industrial Financial Ratios.     

The Financial Plan - Free Online

You may try searching some Microsoft Templates. You can narrow to some many specific ideas like:
   Five Year Plan (Service Industry)
   Five Year Plan (Manufacturing)
   Start Up Costs
   Five year projection worksheet
   Statement of Cash flows

The Financial Plan - UW Restricted

Consider company size in you calculations.  Use the following databases to see financials of other companies in the industry.  FirstResearch shows an average for companies in the industry, and the other resources are for specific companies.

Note- The RMA Annual Statement Studies is online as eStatement Studies and the Buisness Plans Handbook has examples of financials for most of the business plans contained within it. 

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