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Business Plans that Work: A Guide for Small Business 2/E by Andrew Zacharakis

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10 FINANCIAL PLAN: TELLING YOUR STORY IN NUMBERS

Much of your business plan is your verbal and graphic description of the opportunity and how you will execute it. The financial plan is the mathematical equivalent. The growth in revenues speaks to the upside of your opportunity. The expenses indicate how much it costs to deliver the product or service. Cash flow statements serve as an early warning system to potential problems (or critical risks), and the balance sheet represents the resources required to put the delivery system into place. That being said, generating realistic financials is one of the most intimidating hurdles that many entrepreneurs face. There is a temptation to hire an accountant to create your financials for you. Big mistake. ...

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