The Video Transcription:
- There should be a summary of the projection in the financial details of the business plan.
- There should be monthly projections for the first year of operations.
- Three-year projections – suffice – in the first business plan.
- The sales forecast should be detailed and explained. And I don’t mean “1% of 1 billion market, therefore we’ll easily achieve 10 million sales”. Nobody believes that anymore.
- There should be profit and loss account projections detailing out the profit and loss accounts.
- There should be detailed cash flow forecast for the business plan.
- There should be detailed pro forma balance sheet at the end of each year’s projections included in the business plan.
- There should be an explanation of the utilisation of the funds being applied for or requested what exactly the business will do with these particular funds included in the financial details of the business plan.
Download the “Business Plans/Seminar” PowerPoint Presentation below.