The difficulty with forecasting
Forecasting your financial incomings and outgoings at this stage in your business is incredibly difficult and some of the numbers are, frankly, going to be guesses. That’s OK, but you have to have some reasoning to back up these guesses.
Remember that in this book I’m assuming your business is fairly simple and straightforward, and that you are starting on a small scale. If this is not the case, then you need to supplement the advice in this book with the advice in The Definitive Business Plan by Richard Stutely. I’ve used his book to help me write plans for my businesses and have found it immensely helpful. (see Week Twenty’s ‘Recommended Reading’ on p.159.)
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