Week 13: The Business Plan Part 3 – The Financial Plan
Welcome to Week 13: The Business Plan Part 3 – The Financial Forecast
We’ve been excited to release this week as it’s about our favourite subject – financial forecasting.
A financial plan is essential to any business plan. But it’s also essential to you as a business owner, to give you a solid grasp of your finances.
This is one of the biggest elements of the business plan that we’ve been building up to throughout this guide.
Here we cover making a financial plan, and what to include in the appendix of your business plan document. We’ve broken making a financial plan down into 5 steps – here’s what you’ll learn:
- Section 9: Financial Plan
- Structuring your plan effectively
- Filling in the gaps
- Making three (or more!) different scenarios
- Understanding your financial reports
- Presenting your financials in your business plan
- Section 10: Appendix
Next week sees the end of our blogs in our 90-day challenge series. We look at the daunting task of actually pressing the button and launching your business. We break this down into 3 articles;
- Beta testing for a new business
- Mastering the soft launch
- How to launch your business and generate fast growth.
See you next week!
More useful links:
In this article, you’ll understand the basic concept of financial forecasting and why it is so important for businesses of any size.
One of our most popular guides, and for good reason – this article teaches you everything you need to know about financial forecasting, all told from a beginners perspective. We strongly recommend reading this.
In this article, we recap the methodology of actuals vs forecast analysis and look at how to interpret the results. It turns out that re-forecasting and course correction are just some of the things that variance analysis can offer a business.