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Community Forums => The Lounge => Topic started by: Dubai on September 07, 2011, 04:56:39 PM



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.