What Do Business Plan Financials Look Like?

People often ask: What do business plan financials look like? You can get away with a sales forecast, spending budget, and cash flow plan. That’s enough for actually running your startup. It’s the essential numbers in a lean business plan. If you want to do it right you take it further and present projected (also called Pro Forma)…

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How to Get a Loan Tailored to Your Specific Niche

Every business sector is different and has its own financing needs. Most sectors are cyclical but some less so, and whilst some sectors traditionally experience peaks in the summer and lulls in the winter, others find precisely the opposite. So when you’re seeking business finance, it’s important that your lender understands your industry and its…

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Top 10 Tips for Business Planning

I was asked once again for my 10 top tips on business planning. I can’t do that without noting the different uses of business plans in different situations. I ended up with more than 10 tips, but they are more specific to context. 5 Major tips for all business planning Form follows function. Like anything…

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So You’ve Bought a Small Business: What’s Next?

If you’ve just bought a business then the next few months is a critical period for you and your newly acquired enterprise. First impressions count, so it’s your chance to win the respect of your new charges, suppliers and customers. Bodge the transition and you could lose key staff or contracts, so here are some…

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How to Make Money on Your Brilliant Business Idea

So you have a brilliant business idea that will be very successful. My congratulations to you. Now read all ideas are brilliant and nobody is going to pay you for your ideas. Are you still sure? All right then, let’s continue. And—this is important—do not even think about getting investors yet. Do a lean business plan. 1. Gather a team Can…

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Opening Your Own Restaurant? 4 Tips to Get Started

Restaurant businesses are attractive for the plain fact that people will always need food. It’s one of humanity’s basic necessities and so demand rarely dials down throughout the year. Yet while the customer base for restaurants is stable for decades to come, there is a lot of competition in the food business and that can…

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10 Myths vs. Reality on Business Plans and Startup Investment

I gather from a stream of emails I’ve received that there are a lot of misconceptions on the relationship between a business plan and getting seed money and/or angel investment. So here’s a list of reality checks to apply to all those lists. Business plans are necessary but not sufficient. Even a great business plan…

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