FINANCIAL PROJECTION IN BUSINESS PLAN:
One of the most important parts of a professional business plan is financial projection, which is the eighth section of business plan. Whether you are seeking for funds or starting your business, it is necessary to make a financial projection, which attracts the investors and help you to take important decisions easily.
These professional business plans are custom business plan, which are easily available online. Custom business plan writing is not an easy task. One requires enough time, money and effort to write a successful business plan that will lead their business towards success.
Financial projection usually consists of three sections: Income statement, balance sheet and cash flow statement. It is necessary to gather all the financial data, in order to prepare financial projection. Avoid adding unnecessary or irrelevant material, while drafting your financial projection. If you add irrelevant or unnecessary material in financial projection than you will not be able to meet your financial goals in immediate future.
Below are the mistakes that a business plan writer make while writing crafting financial projection:
• Add unrealistic sales and profit assumptions, which are the most important parts areas of financial plan.
• Add too much irrelevant material. It is necessary that financial projection is to the point. It is one of the most important sections that investors look before granting the loan. If it contains irrelevant material, the chances of funds will be lessen.
• Industry average: Most business plan writers fail to compare their financial projections with industry average. Industry average is important to know the performance of your company, whether it is above or below.
• Most business plan writers fail to link financial statements. This is because these financial statements are prepared separately, so most of the time it will not create the balancing effect in balance sheet. For getting the accurate result, it is necessary to check the financial statements time-to-time.
Above are some mistakes that a business plan writer made, while crafting financial projection. If you are unable to create financial projection without any errors, you can hire professional business plan writer or buy business plan from business plan service providers, which are easily available online.