By Mildred J at July 05 2019 01:43:32
Financial Plan _ What is the anticipated income? What are the cash flow projections? What is the anticipated budget over the next 3 years? What is the break even point? When is it anticipated to be met? What funding is needed and where will it come from? What funding is currently available? What collateral is available? What is the net worth of the principals, if applicable? Possible Data Sources: accountant; accounting software; Small Business Administration; Small Business Development Center; SCORE; banks; venture capitalists.
The business planning process can be very helpful to "accidental entrepreneurs" as it allows you to decide which ideas are best left as hobbies and which ones could provide some real cash flow. The "Back of a Napkin" Plan: It is the source of entrepreneurial legend and lore, the million_dollar idea that was hurriedly scribbled on a bar napkin. Yet, for most potential business owners this option for business planning remains a fantasy. However, like any myth there is a tiny grain of truth inside. A quickie business outline can work as a launch plan under the right circumstances.