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Financial Needs and Performance
Action Items The Financial Needs Checklist helps you assess what has to be done to determine your financial needs. Begin with a thorough, strategic business plan that projects your financial needs and performance into the future and answers these key investor questions:
Preparing your plan, and accompanying financial data, can be time consuming. And it requires some special skills. Management and external advisors may be able to help in putting it together. Forecasting"I built a plan that required $3.5 million. People asked me if I could do it for less. So I needed the arguments to justify it."* Investors will look very closely at your company's plan and projected financial statements to see if your business will generate an adequate return in a reasonable amount of time.
Your plan and financial projections must show, in detail, how you'll use the
funds you get and how your company will perform over the next five years. Determining Financial Needs"You need to identify ALL your costs. It can be boring but I wanted to know my costs exactly. I interviewed employers to find out what salaries would cost, got the costs of phone lines and office equipment, checked out expected rent...."* To finance your growth initiative, you'll need to know how much of each of these types of funds you'll need:
Projecting Performance
Investors will want evidence that you can really achieve the gains that you forecast. They'll be looking closely to see if:
Your investment proposal should include:
Action ItemsSee the Financial Needs Checklist for help assessing what has to be done to determine financial needs.
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Updated: 2005/07/12 |
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