Customer segmentation Your ideal customer, also known as your target market, is the foundation of your marketing plan, if not your business plan as a whole.
Research relevant industry trends and trajectory. How much money are you asking for? Remember that cash flow is all about timing and the flow of cash, so when preparing your cash flow forecast, make sure you are as accurate as possible on the timing of the cash flows.
It's a simple principle, but one that can occasionally become lost amid dreams of building multinational empires worth millions of pounds. Examples are: buying new assets 'one off' bank fees such as loan establishment fees loan repayments investing surplus funds. Pinson also recommends that you undertake a financial statement analysis to develop a study of relationships and compare items in your financial statements, compare financial statements over time, and even compare your statements to those of other businesses.
Next, input your month 1 forecast — all the sales broken down into the elements of your particular business — and do the same for expenditure. Adding this amount to your total startup expenses list, and you have a ballpark figure for your complete start-up costs.