Financial planning for a startup business is tough and not a day goes by where we don’t get a question about it. Questions like, how much money will I need for startup financing and where do I get the money from, are the most common? There are several different ways for funding your startup. Learn a few of them and how Brandings can help you.
Finance Planning for Small Business Startups
Starting a business is like planting a tree, you just don’t water the first day. A business is a growing developing entity that needs to be nourished and that’s where the planning comes in. Financial Planning for your business or startup is key to success. After all, you don’t just need money to start the business, you need to have enough capital to keep it thriving over the initial developmental period. Specifically for this reason, we’ve developed questions that every entrepreneur should be able to answer.
We present questions that cover all areas of a startup:
A. Startup Vision, Mission, Goals & Objectives
B. Development & Structure
C. Market Analysis
D. Product & Service Offering
E. Competitive Environment
F. Strategic Planning
G. Marketing & Sales Planning
H. Organization Structure & Management
I. Operations Planning
J. Risk Analysis & Contingency Planning
K. Financial Plan
This blog will focus on one area — Financial Planning
Following are a series of 13 questions that will help you in making capital decisions and financial plans for your small business.
This list of questions should trigger discussion and more questions. The time you spend now could make the difference between success and failure.
Startup Business Financial Plan Questions:
- What is your break-even point?
- Develop a financial profit and loss projection for the first 12 months of operation. (Calculate using three scenarios, best case, worst case and likely)
- Develop a financial profit and loss projection for the first 5 years of operation. (Calculate using three scenarios, best case, worst case and likely)
- What is the current capitalization plan?
- What is your projected cash flow?
- How much capital will you need before you begin your startup?
- What are the sources of funds?
- How much money will be sought?
- How much ownership will be provided in exchange for the investment?
- When and how will investors will be able to get their money out of the business?
- How much capital will you need to sustain the business for the first 12 months under the worst case scenario identified above?
- Capital, how much will you need to sustain the business for the first 5 years under the worst case scenario identified above?
- What cost control measure will you have in place?
Brandings offers a wide range of services including company naming, premium domain names, strategic planning, corporate identity and design, testing and research, trademark screening, all custom tailored to meet all your specific startup needs.
Video games, you can play them at home, now on your phones and even play them on TV built into the back of car seats. Above are some of Brandings available Entertainment and Game names. I’ll leave you with our new mantra, have any questions or comments, let us know, post it below.