Knowing is owning. Be on top of your project and learn what the numbers are telling you.
If you are a first-time entrepreneur you have to find out whether your project is profitable. No matter what your vision is, how impeccable your marketing strategies are, and what you aim to conquer with your product or service, in the end, everything boils down to how much your idea can earn at the end of the day.
This can be done by drawing up a financial plan that provides an overview of your income, expenses, investments and cash flow. This way you map all the financial opportunities and threats. Hence, it is critical to justify your business with good figures.
The financial plan is a snapshot of the projections that informs your short and long-term financial goals and gives you a starting point for developing a strategy. It helps you, as a business owner, set realistic expectations regarding the success of your business. You’re less likely to be surprised by your current financial state and more prepared to manage a crisis or incredible growth, simply because you know your financials inside and out. In other words knowing is owning.
And aside from helping you better manage your business, a thorough financial plan also makes you more attractive to investors. It makes you less of a risk and shows that you have a firm plan and track record in place to grow your business.
An accurate financial plan consists of 6 components:
1. Profit and loss statement
2. Cash flow statement
3. Balance sheet
4. Sales forecast
5. Personnel plan
6. Business ratios and break-even analysis
dodkom can help you with drafting your financial plan. We have different formulas to tailor your financial plan. This is how we work:
||Let us know by using this link that you are a startup and need a financial plan.|
||We will send you a questionnaire.|
||Tailored for your requirements we can forecast a:
• 2 or 5 year profit & loss account
• 2 or 5 year balance sheet
• 2 or 5 year cash requirements
• break even analysis
||We send you a clear proposal with pricing.|
||Once you have given us the green light we will start crunching your numbers. This might take around 1 to 3 days depending on the scope.|
||Together we discuss the numbers and adjust where needed. This process takes up to one day.|
||We send to you the final financial plan in PDF format.|