From the course: Financial Analysis: Making Business Projections
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Adapting projects for start-ups - Microsoft Excel Tutorial
From the course: Financial Analysis: Making Business Projections
Adapting projects for start-ups
When your company is still at the project stage and you are preparing a financial projection as part of a business plan, you have an extra difficulty to work through which is that there is no historical data for you to use as the basis of your projection. How are you supposed to create a financial plan for something that does not exist? The answer is in your operational plan. There is a list of things that you need to do in order to get your company going, maybe a store to find, a website to create an application to develop or simply to cold call your way to your first customer. In any case, that means that there are things you need to do and bills you need to pay even before you get to meet your first customer. For a start-up preparing a business plan, it is less about the realistic picture of what will happen but more about what needs to happen in order for the company to survive. The first thing a company needs to survive is to be profitable and so that should be the first…
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