Startups and Business Owners Will Thank Me for Posting This Debits and Credits Video

by Tim Berry

Business owners, startup founders: Do you know debits and credits? If so, cool, you know why I’ve posting this here as my Friday video. And if not, do yourself a favor and stick with this post and this video for a few minutes. You’ll be glad you did. It’s 13 minutes. If you go through... Read More »

Business Plan Financials? Why Bother?

by Tim Berry

As I’m winding up my series of posts on standard business plan financials  – this is the 20th since last month – I want to focus on why? Why bother to project your business plan financials ahead of time? Aren’t they going to be wrong anyhow? Aren’t they going to change? Some people will suggest... Read More »

Business Plan Financials: Starting Costs

by Tim Berry

It’s really important to have an idea of what you need before you start. Continuing with my series on standard business plan financials, startups need to project starting costs. Starting costs set up a starting balance, which is necessary to plan cash flow. And the starting costs are critical to determining whether a startup can bootstrap or... Read More »

Standard Financials: Sample Website Sales Forecast

by Tim Berry

Here’s fourth sales forecast example, part of my standard business plan financials series, following email sales forecast example, restaurant sales forecast example, and how to forecast sales last week. This is a sample website sales forecast. In all of them I’m making the point that sales forecasts come from meaningful assumptions you can use to manage the... Read More »

Standard Business Plan Financials: Email Sales Forecast Example

by Tim Berry

Here’s another sales forecast example, part of my standard business plan financials series, following my restaurant sales forecast example posted here yesterday, and how to forecast sales the day before. The point is to call out realistic assumptions that make a sales forecast useful. This is to illustrate my underlying point that anybody who can... Read More »

Standard Business Plan Financials: Sales Forecast Example

by Tim Berry

Continuing my series on standard business plan financials, this is an example of a startup sales forecast. It’s a direct follow-up to yesterday’s How to Forecast Sales. The goal is to take a hypothetical case and open up the thinking involved, not so anybody just copies it, but rather to serve as an example. The... Read More »

Standard Business Plan Financials: How to Forecast Sales

by Tim Berry

Continuing with my series on standard business plan financials, you can’t run a business, or start a new business, without a sales forecast. Whether you have a full business plan, or a lean business plan, or just a collection of spreadsheets, a proper sales forecast ought to become like a dashboard, meaning it’s a tool you... Read More »

Standard Business Plan Financials: Indirect Cash Flow Forecasting

by Tim Berry

I’ve been doing a series on standard business plan financials, summarizing the basics so anybody who runs a business can know and understand the numbers. This one is a special follow up to How to Project Cash Flow and LivePlan Cash Flow last week. Indirect cash flow forecasting is a valid and often convenient method... Read More »

A Cash Flow Lesson

by Tim Berry

My Friday video this week is me (well, my voice; I don’t appear) offering a visual demonstration of a critical cash flow lesson. This first very nicely with my theme of business plan financials in the last week or two. It shows how much business-to-business sales, sales on account, and waiting for customers to pay... Read More »

Business Plan Financials: Tips and Traps

by Tim Berry

This is the latest post in my series on standard business plan financials. I’ve already written about the three essential projections, and how to do each, plus posts on standard vocabulary, timeframes, and so on. This one covers some common misunderstandings and errors that occur. The area of financial analysis is one in which definitions matter... Read More »