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Archive for June 30, 2008
Building Quality Financial Projections
June 30, 2008 by mrbizplan.
Probably one of the most uncomfortable things a first time entrepreneur has to attempt is their first set of financial projections. Frequently I hear the following:
- “Well…I don’t know how many people will buy from me!”
- “I just took a WAG (wild ass guess).”
- “This is so stupid…why am I doing this!”
- “How the hell am I suppose to know?!?”
To all of them I answer “YOU are the expert in the business you are starting and You have to set some expectations for the banks and/or investors.”
As you may have heard, “Financial projections are part art and part science”.
So what does that mean? Read the rest of this entry »
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