Browsing Tag
financial projections
10 posts
4 Tips for Writing a Standout Business Plan Financing Request
One of the most important elements of a business plan is a financing request, or the amount of funding your business is requesting of potential investors. Many entrepreneurs may worry they are asking for too much money, while others may not feel totally certain about the future of their company, especially nowadays. This leaves the...
The 5 Things Investors Really Care About When Reviewing Your Business Plan
A business plan is an essential tool for startups and, when executed correctly, it serves two key purposes: It provides goals and a roadmap for you to follow in order to build a successful company. It provides the format and information lenders and investors need to determine whether or not to provide funding to you....
10 Best Financial Planning Habits for Freelancers and Entrepreneurs
While 48% of new freelancers view freelancing as a long-term career choice, this is only realistic if you have a long-term financial plan. While freelancing comes with advantages, such as flexibility and independence, there are also plenty of drawbacks. You’ll need to cover your own benefits, build an emergency fund and plan around inconsistent income....
How (and Why) to Continually Update Your Business Plan
“New year, new business plan.” Well, that’s not the exact saying, but in an increasingly competitive business world, it’s a nice catchphrase as we quickly approach the second month of 2020. Truthfully, you should always update your business plan to reflect your company’s current standing in the marketplace, finances, personnel, technology and more. These things...
How to Win a Small Business Grant
When Rachel Irons won Nav’s first small business grant for her company Founding Foods, it wasn’t just about the money. “To have a much larger company choose us and trust us with with such a sum of money felt incredibly validating,” she explained. “All the hard work we’ve been putting in was recognized and appreciated...
Why Entrepreneurs Need to Fall in Love With Numbers
For most entrepreneurs, building a company starts with a novel idea. Maybe it’s a disruptive technology, or perhaps bringing better service to an industry that needs it. Whatever it may be, few things are as thrilling as taking an inspired and well-crafted idea, and making a business out of it. While an entrepreneur might have an...
How to Tackle the Financial Portion of a Business Plan
If you’ve ever drafted a traditional business plan or a lean startup plan, you know that it’s highly important to outline your startup’s finances. Traditional business plans require financial projections (what the cash flow looks like for your business) and a financing request, which outlines the amount of funding you’d like to request from investors....
4 Reasons to Have Your Business Financials in Order
As humans, we tend to focus our attention on the things that bring us the most pleasure and least pain. It is probably no wonder that most entrepreneurs and emerging companies tend to focus on daily tasks and projects which bring them joy, have the least amount of resistance and sometimes make them money. However,...
How to Get a Loan for Your Small Business in 9 Steps
Applying for a small business loan can seem overwhelming. It’s hard to know where to begin, and the finish line can seem so far away. By following these nine simple steps, your dream of obtaining a small business loan is attainable. Plan, plan, plan! The first step in any new business is to work out a thorough...
Financial Projections and Your Business Plan
There’s so much to running a business that the numbers can get lost in the fun of the planning. What will the business cards look like? How will we recognize top customers? What products will we offer that our competitors don’t? Compared to drawing up a menu, designing window displays and hiring great employees, creating...