Will the Financial Section Help With A Start Up?

by Andrew Houser
(omaha,ne)

We are entering into beta testing with an e-learning-social networking site. i am writing a business plan for this start up and any financial data is an estimate based upon positive prospect feedback. will your financial report model(s) work with speculative data?

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Will the Financial Section Help With A Start Up?

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Nov 12, 2008

EBusiness Startup Plan
by: Jon

You've got a couple of strikes against you before you ever begin: It is internet related, and it is a startup. The key is to be able to show success, in the numbers as well as the words. The financials in the business plan include startup costs and ratio comparison pages. Use those to demonstrate your past and future successes. Recognize, too, that all numbers are artificial until you can document actual numbers. Documenting those actual numbers is no small feat. Your beta tests will go a long way to helping you accomplish this. You might want to insert a separate column in the financials titled "Beta Test" to show how you can project the numbers that you project. In fact, devote a whole section in the narrative to the beta test, demonstrating what it accomplished and how it changed your plans, if it did. I doubt that a tax category has been established for "social networking", so pick and choose the NAICS code carefully.

Good luck on your new business!