Top 10 Hints - FINANCIAL SECTION OF A BUSINESS PLAN...

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FINANCIAL SECTION OF A BUSINESS PLAN ASSIGNMENT TOP TEN HINTS 1. Select a business you are really interested in – perhaps a family business that you might work in someday or a business related to your field of study. For some cool successful startups examples see the article entitled "Young Millionaires" that I have posted on ICON. 2. Start-up outlays (assets and expenses) will need to be roughly estimated (guessed at) and should be equal to your startup capital raised. Many new businesses’ underestimate their total start-up outlays and the total time that it takes to start a business – make sure not to understate your start-up outlays (build some excess into your start-up outlays). 3. Use the correct RMA industry data for the size of your business based on your estimated net sales - your net sales average is automatically calculated on Sheet IS - cell K13. 4. If your RMA industry data shows no cost of sales (it is blank) then this means all your expenses are operating expenses. This requires that you put 100% into the Sheet
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