Startup Business Plan Financials

Startup Business Plan Financials-41
Before you throw numbers and spread sheets at your readers, summarize your financial needs.If you are seeking investors, this is where you will indicate how much cash you need to begin operations. How much will have to be spent on computer equipment, office furniture, etc?If you're writing this for an existing business, then these statements will reflect your past business history and current financial situation.

Before you throw numbers and spread sheets at your readers, summarize your financial needs.If you are seeking investors, this is where you will indicate how much cash you need to begin operations. How much will have to be spent on computer equipment, office furniture, etc?If you're writing this for an existing business, then these statements will reflect your past business history and current financial situation.

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What makes up the heart of your business plan is the profit and loss (or income) statement, the balance sheet, and a cash-flow statement.

If your business is a startup, these will all be projections, or pro forma statements.

At our Entrepreneur magazine Roundtable, financial pros offer tough talk about the business plans of first-time entrepreneurs: Related: What Investors Really Think About Your Business Plan Video: How Can I Hire Someone to Help Write My Business Plan?

If you're seeking funding for your business venture, you have two options.

And, your potential investors or lenders are reading your plan to see when (or if) you're going to make that money.

So the financials of your plan can certainly be referred to as the heart, the meat, the big enchilada -- insert your own mega metaphor here.

You can go to banks and other lending institutions and seek a business loan, or you can go in search of venture capitalists.

Which source you choose, will depend on the amount of funding you need.

Be sure to include recurring expenses—salaries, rent, gas, insurance, marketing, raw materials, maintenance and the like—and one-time purchases, such as machinery, website design and vehicles.

Research industry spending to get a better idea of the numbers.

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Comments Startup Business Plan Financials

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