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Developing Financial Forecasts for a Business Plan

Developing Financial Forecasts for a Business Plan. Kim Hostetler Subbu Kumarappan. So, you want to start a business. Having a great idea is not enough! Everything needs to be put together in a business plan or business model. Financial Forecasting - Pro Forma Financial Statements.

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Developing Financial Forecasts for a Business Plan

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  1. Developing Financial Forecasts for a Business Plan Kim Hostetler SubbuKumarappan

  2. So, you want to start a business • Having a great idea is not enough! • Everything needs to be put together in a business plan or business model.

  3. Financial Forecasting - Pro Forma Financial Statements • Allow us to plan and budget • Planning is crucial for success • Where are we headed? • Did we get there? • Need to know • Revenue projections • Inventory purchases • Variable & Fixed costs

  4. Overview of Financial Statements Income Statement Revenues - Expenses Net income Balance Sheet Assets = Liabilities + Owner’s Equity Statement of Cash Flows Cash Inflow • - Cash Outflow • Net Cash Flow

  5. Financial Forecasting - Pro Forma Financial Statements, continued • This can be a daunting task! • Using Excel can make it easier

  6. Making your forecasts realistic • Compare with industry averages • RMA • BizMiner • IBIS World • Meet with Industry Experts

  7. Questions? • Kim Hostetler, hostetler.78@osu.edu, 330-287-1256 • SubbuKumarappan, kumarappan.1@osu.edu, 330-287-1261

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