There are a multitude of very important reasons why every business venture must establish and maintain an on-going business planning process. Perhaps the most critical motivating factor is that without one, the chance of acquiring financing from any source at any time is extremely small or non-existent.
To develop a complete and accurate business plan, the Longwood SBDC will help you:
- Determine concept feasibility
- Assess the market
- Forecast your sales
- Prepare cash flow projections
- Plan for an expansion
To get started with your business plan, contact your local Longwood SBDC to schedule a no-cost, confidential consultation or download The Entrepreneur’s Business Planning Guide today!
The Entrepreneur’s Business Planning Guide: A Map for Success & Obtaining Capital
The Entrepreneur’s Business Planning Guide is a comprehensive, user-friendly workbook for creating a formal business plan.
Start-up Costs Worksheet
Start-up costs are those expenses that you will incur before your business opens. They vary according to the type of business, but this worksheet will help you begin the process of assessing your financial needs so that your venture is not under capitalized at the outset.
Monthly Operating Expenses
Some of your start-up expenses will also become ongoing monthly costs once your firm is in operation. It is necessary to estimate all of your monthly costs so that you are realistic about the income your firm will need. This worksheet includes some basic considerations. Completing it will help you and your Longwood SBDC counselor develop cash flow projections.
You can use simple break-even analysis to determine the minimum amount of volume you need to do to pay all the bills. This can be the first step in a personal feasibility study. If you determine that you can at least break even, you can use the formula to estimate sales goals and formulate marketing efforts to achieve these goals.
SBA Direct is a new dynamic Web tool that allows users to personalize their experience on SBA.gov. Just by answering a few simple questions about your business, SBA Direct brings the targeted resources you need to start, operate and grow your small business – directly to your desktop.