Creating Realistic Financial Projections for Your Small Business
November 13 @ 7:45 pm - 9:00 pm CST
Free
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.
This is the third in a series of 3 consecutive finance webinars offered on Tuesday, November 12, and Wednesday, November 13, 2024. Please register for each class you plan to attend.
Faculty: A team of SCORE and community volunteers with wide ranging business and financial experience.
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