Creating Realistic Financial Projections for Your Small Business

Description

**FREE Webinar** Where do your financial projections come from? Your knowledge of your business and industry, and your best estimates of what might happen. Purpose of Financial Projections: Use to plan, set realistic goals, and secure funding. Use as a roadmap to assessing the feasibility of your plan. Importance in developing investor confidence & improving internal decision-making. Components of Financial Projections: Sales Forecast: predicting future sales based on market research & historical data. Expense Forecast: estimating fixed & variable costs over time. Cash Flow Projection: projecting inflows and outflows to ensure liquidity. Creating the Projections: Steps: gathering data, making assumptions, & applying forecasting methods. Tools and software: use of a SCORE provided Excel spreadsheet model to generate a projection. Importance of recording assumptions & revisiting and adjusting projections regularly. Using Projections to Monitor Performance: Comparing actual results against projections to measure performance. Identifying variances & reasons behind them. Making informed adjustments to strategies based on analysis.