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Smart Business Start-ups by Infinite Ideas

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5. What’s in your pocket?

You will need to determine how many customers you can expect per day, month and year and how much each of them will spend on your products and services.

Although nobody is expecting absolute accuracy, very few people will be fooled by sheer hope. Picking numbers out of the sky is one sure way to complete your projections quickly – but the document will be useless.

Dust off the calculator and prepare yourself for the joy of profit and loss sheets! In some respects you can get away with producing any old figures to present in your business plan – but the only person that you will be deceiving is yourself. No one can project figures completely accurately, but it is better to take an educated guess, based on the hard facts ...

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