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Business plan writing

Planning for success – your first simple business plan

Planning for success – your first simple business plan

So, you’re making a business plan. You know your business, that’s the easy part. Making a financial plan, well, that sounds harder, right? This article is all about making a simple financial plan for your business. Each element of the business that you need to consider will be broken down into steps, which when added together make a full financial picture of the business.

How to forecast your startup or business’s cash flow

How to forecast your startup or business’s cash flow

The cash flow statement is one of the more common reports used by accountants. It is a measure of all the incoming and outgoing cash activity of the business and is usually estimated at a monthly level. You may think that all that matters is your profit margin but cash flow is critical.

The key difference between a cash flow forecast and another report like the income statement is that it’s all about timing. When cash is parted with or received is vitally important. It will not take into account future sales received on credit. It’s a true reflection of your bank accounts inflows and outflows. Not what might be, but what is.

How can a financial model help my business?

How can a financial model help my business?

In the last two articles I talked about what financial modelling is and how this is different to the kind of planning present in many business plan templates. Today I’m going to outline the practical side of how a financial model (and a Brixx model in particular!) can help bring clarity to business planning, as well as being a great asset in the long run.

Financial model and financial plan – what’s the difference?

Financial model and financial plan – what’s the difference?

Brace yourselves! It’s a series of articles about financial modelling… beginning with a really important question:

“Why model?” is the question we pose ourselves before embarking on every new project. It’s a question that you might find yourself asking too if you’ve come across the term “financial model”.

Modelling is a specific kind of financial planning. There are plenty of financial planning apps and services out there, and many of them are really great. But very few true financial modelling tools are available, especially on a scale suitable for startups and small businesses.

Quick guide to setting up your own business

Quick guide to setting up your own business

Startups can happen quickly

Or at least, they appear to from the outside.

The first business I was involved with was a startup in the UK. When I started writing my university dissertation the business just didn’t exist. By the time I handed in my 60 pages of literary analysis the company had been running for a month and I was lucky enough that they were looking for new content writers to join their team.

I didn’t know the first thing about finance

I didn’t know the first thing about finance

When I first came to Brixx I didn’t know the first thing about finance.

But I did know something about small businesses and how they operated.

Within a week I was starting to understand that the Dark Art of accountancy wasn’t so dark, it’s just rarely explained in terms non-accountants understand. The reason why a balance sheet should balance, or the difference between retained earnings and opening cash is lost to most non-accountants. Business people and entrepreneurs see the world divided in different ways to the rules of accountancy.

Brixx planning software is trusted by hundreds of UK housing associations and now hundreds more startups and small businesses.

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