Take 10 minutes to assess your business idea financially.
Originally published: 29/11/2018 10:51
Last version published: 01/05/2020 17:14
Publication number: ELQ-70631-15
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Take 10 minutes to assess your business idea financially.

A financial planning model for non-accountants.

This simple 9 stage Financial Model allows you to quickly evaluate whether you new business idea will fly.

It covers the first 12 months of your business’s life – the key period when the vast majority of new venture wither and die and is aimed to ensure that yours won’t through wrong financial decisions.

It’s designed for non-accountants with its emphasis on a heads-up visual dashboard as you enter the data. But it also produces a complete set of accounts for your review.

More importantly it shows you at a glance any money that you may need to invest or borrow.

Why use it?

• Your idea is in its initial stages and you do not want to involve expensive accountants or advisors at this stage.
• You will get instantaneous outputs as you enter the data and have the facility for amending or upgrading your decisions easily.
• It ensures that you consider all the key financial decisions that you have to make in any business planning.

Once completed you will be able to make a Go/NoGo decision on your plans as they stand – either confirming your hopes of a successful business or saving you wasting your precious time and money on a failed enterprise.

This Best Practice includes
1 Excel File

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Further information

New business evaluation

using MS Excel

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