|
Title: Business Plans and Financial Forecasts Post by: Dubai on September 07, 2011, 04:56:39 PM Anyone experienced in the above? If so would be grateful if any tips could be pmed
Title: Re: Business Plans and Financial Forecasts Post by: DaveShoelace on September 07, 2011, 05:01:28 PM Buy low, sell high.
your welcome Title: Re: Business Plans and Financial Forecasts Post by: nirvana on September 07, 2011, 05:24:23 PM Anyone experienced in the above? If so would be grateful if any tips could be pmed Are you looking at other peoples or preparing one yourself ? Title: Re: Business Plans and Financial Forecasts Post by: Dubai on September 07, 2011, 05:37:24 PM Preparing one- well attempting to
Title: Re: Business Plans and Financial Forecasts Post by: outragous76 on September 07, 2011, 06:39:13 PM why are you preparing it?
If it is just for your purposes - err on the side of caution with the numbers if it is for the banks purposes - feel free to embellish it - just make sure that you can make it sound realistic. In short whatever you prepare for a bank - have a VERY clear and concise executive summary (no more than 2 sides) and as much back up data as you like (/need to justify). Make the exec sum easily readable, with clear correlation to proposed profits. You should also do a "year 1" and a years 1-5 plans too (as for new businesses year 1 can often show a loss) Title: Re: Business Plans and Financial Forecasts Post by: AndrewT on September 07, 2011, 08:06:21 PM Just send them this link IMO
http://blondepoker.com/forum/index.php?topic=49511.0 Of course the tournament will be tough but when it comes to online mtts im the schnizzles so not selling at less. Will just take the action myself. Title: Re: Business Plans and Financial Forecasts Post by: Longines on September 07, 2011, 08:14:12 PM Anyone experienced in the above? If so would be grateful if any tips could be pmed Think JJ Hazan tried it already. Title: Re: Business Plans and Financial Forecasts Post by: tikay on September 07, 2011, 11:14:01 PM Anyone experienced in the above? If so would be grateful if any tips could be pmed PM me a few details, & I'd be happy to try & help. Need to know type of business, likely cash flows, likely prime costs & overheads, how much you intend to invest, amount of funding sought, usual gubbins, etc. If yiou are going to the banks for funding, they are a soft touch if you give them good, well constructed, but most of all, prudent & conservative, forecasts. Title: Re: Business Plans and Financial Forecasts Post by: smashedagain on September 07, 2011, 11:17:37 PM Not so sure banks are as soft a touch as you think they are Tony. They are a lot tougher these days than when you made your first million :)
Title: Re: Business Plans and Financial Forecasts Post by: tikay on September 07, 2011, 11:27:35 PM Not so sure banks are as soft a touch as you think they are Tony. They are a lot tougher these days than when you made your first million :) Banks are just people, Jason. Work the system, man. They make a living out of lending money. A start up will never succeed unless it gets the banks onside, assuming it needs working capital. Title: Re: Business Plans and Financial Forecasts Post by: outragous76 on September 07, 2011, 11:47:17 PM Not so sure banks are as soft a touch as you think they are Tony. They are a lot tougher these days than when you made your first million :) Banks are just people, Jason. Work the system, man. They make a living out of lending money. A start up will never succeed unless it gets the banks onside, assuming it needs working capital. im inclined to agree with jason from very recent experience. as an unknown - even with good personal history Title: Re: Business Plans and Financial Forecasts Post by: EvilPie on September 10, 2011, 01:06:33 AM Anyone experienced in the above? If so would be grateful if any tips could be pmed PM me a few details, & I'd be happy to try & help. Need to know type of business, likely cash flows, likely prime costs & overheads, how much you intend to invest, amount of funding sought, usual gubbins, etc. If yiou are going to the banks for funding, they are a soft touch if you give them good, well constructed, but most of all, prudent & conservative, forecasts. Have you been asleep for 2 years? Title: Re: Business Plans and Financial Forecasts Post by: Simon Galloway on September 10, 2011, 05:23:29 PM How would we tell?
Title: Re: Business Plans and Financial Forecasts Post by: StuartHopkin on September 10, 2011, 05:45:08 PM Not so sure banks are as soft a touch as you think they are Tony. They are a lot tougher these days than when you made your first million :) Banks are just people, Jason. Work the system, man. They make a living out of lending money. A start up will never succeed unless it gets the banks onside, assuming it needs working capital. im inclined to agree with jason from very recent experience. as an unknown - even with good personal history Jason is defo right. Even as a known, if you have nothing to secure it against they aren't interested. However they will secure them using these http://www.businesslink.gov.uk/bdotg/action/gsdDetail?itemId=1081834978 but you need to ensure you qualify. Title: Re: Business Plans and Financial Forecasts Post by: Simon Galloway on September 10, 2011, 05:49:55 PM Banks will lend money to anyone that can prove they don't need it.
Title: Re: Business Plans and Financial Forecasts Post by: BigArmo on September 12, 2011, 11:17:56 AM Depending on the type of business you are getting into the following can help with you not be to dependant on the bank,
Check out Invoice Discounting its a way of unlocking £s via current sales it makes a massive difference to any cash flow. But there is a cost involved which needs factoring in to any profit/loss forecasts. |