Business Plan for Startups - The business plan consists of a narrative and several financial worksheets. It should not exceed 10 pages in total. The attached guide to writing a business plan is a generic model suitable for all types of businesses. However, you should modify it to suit your particular circumstances.
Business Plan for Established Businesses - The business plan consists of a narrative and several financial worksheets. It should not exceed 10 pages in total. The attached guide to writing a business plan is a generic model suitable for all types of businesses. However, you should modify it to suit your particular circumstances.
Becoming an Independent Consultant - You’ve been working for a large company or consulting firm for years, you’re restless, and thoughts of going out on your own fill your mind. This dream has come true for many in the past and is happening even frequently these days. But many who try either fail or are disappointed. How best to do it, what can you expect, how to avoid potential pitfalls? All these questions and more are the focus of this article, written by a Certified Management Consultant (CMC) (retired) who has done it.
12-month Cash Flow - It is said that "cash is king". Cash Flow is the backbone of your Business Plan. Your cash flow Statement shows "sources and uses" of cash during a period of time. For example, your sales projection shows when you expect to book sales. Your cash flow statement shows when you expect to be paid. See attached worksheet.
Competitive Analysis - It is critical to clearly understand how your product or service measures up versus key competitors on such fundamental success drivers as quality, customer service, and pricing. Attached is a simple grid to facilitate your analysis.
12-month Sales Forecast - Forecasting sales of your product or service is the starting point for the financial projections. The sales forecast is the key to the whole financial plan, so it is important to use realistic estimates. The attached worksheet will give you a simple approach.
12-month Profit & Loss Projection - The P&L shows you how effectively you are running your business - how you are managing the dual challenges of "sales vitality" on the top line and "cost/spending discipline" leading to the bottom line.
3-year Profit & Loss Projection - A longer term forecast (current year + 3) is an excellent tool to help you open up your thinking about the company's future. Banks or equity investors will almost always want a longer term forecast to get a feel for growth prospects. For example, it allows a start-up to define its goals relative to expected improvements in sales, costs, and income as the business grows. It allows established businesses to appropriately plan for significant investments in such things as capital, marketing, and organization.
Projected Balance Sheet - A balance sheet basically shows what your business owns and what it owes - its "financial condition" at a specific point in time. Additionally, it shows the key drivers of liquidity, your working capital components. Many work closely with their accountants to prepare them.
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