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How to Manage Cash Flow With Accurate Cash Flow Forecast

Up and Running

If you’ve built a budget and forecast for your business, you’re already one big step ahead of most businesses. But, you can’t just rest on your laurels – you need to put that budget and forecast to work for your business. Develop your cash flow forecast. How to create a dynamic, more accurate cash flow forecast.

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10 Strategies To Avoid Bad Risks In Your New Venture

Startup Professionals Musings

Don’t rely on conservative forecasts to reduce risk. Investors don’t fund conservative forecasts, nor wildly optimistic ones, since both imply a lack of commitment or homework. All the rest are bad risks, including problems you didn’t anticipate, competitors you didn’t know about, and customer expectations that you can’t meet.

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How to Forecast Sales

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First, allow me to deal with a very common problem: Business owners are often afraid to forecast sales. I was a vice president of a market research firm for several years, doing expensive forecasts, and I saw many times that there’s nothing better than the educated guess of somebody who knows the business well. That’s much harder.

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10 Manageable Risks That An Entrepreneur Should Take

Startup Professionals Musings

Don’t rely on conservative forecasts to reduce risk. Investors don’t fund conservative forecasts, nor wildly optimistic ones, since both imply a lack of commitment or homework. All the rest are bad risks, including problems you didn’t anticipate, competitors you didn’t know about, and customer expectations that you can’t meet.

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A Detailed Sample Restaurant Sales Forecast

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Remember, there is no single way to forecast any business. Magda was looking at forecasting sales for a small restaurant. The point of this example is simply that Magda has to find a way to make sense of her forecast. Magda should get on a computer and put her forecast in a spreadsheet. It’s often very creative.

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A Detailed Sample Restaurant Sales Forecast

Up and Running

Remember, there is no single way to forecast any business. Magda was looking at forecasting sales for a small restaurant. The point of this example is simply that Magda has to find a way to make sense of her forecast. Magda should get on a computer and put her forecast in a spreadsheet. It’s often very creative.

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How to Write a Business Plan for a Service Business

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Whether you are starting a consulting business, a car repair shop, or a construction firm, a business plan will help you figure out your strategy, develop your marketing plan and figure out the all-important financial forecasts so that you can be successful. Write your executive summary last, after you’ve written the rest of your plan.