Every entrepreneur starts their business with the goal of seeing it succeed and thrive in the long-term.To achieve the goal of longevity, you need to do a lot of planning and make the right financial decisions.Even broken into sections, it's a long document and a bit of a slog to get through, but it produces a professional-looking and useful business plan.
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Who said a business plan has to be a long, complicated document?
Some funders are going to want to see a lot of detail, but you can provide that in appendices.
Although these financial models are mostly used internally, they may be a requirement for certain business transactions.
Depending on the enterprise, you can make financial projections for varying periods, from one year up to more than ten years.
The SBA's template is available to fill out online and then download as a PDF.
You can go back in and edit it as needed, so don't worry about having everything ready the first time you sit down to tackle it.
For this reason, entrepreneurs, investors, financial analysts, Chief Executive Officers, and managers are now turning to financial modeling.
Financial modeling allows you to examine your business’s current and past financial figures so that you can accurately come up with future projections.