Predicting the Future Using the Language of Numbers Tips and Tricks to Preparing Financial Projections
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Predicting the FutureUsing the Language of Numbers
Tips and Tricks to Preparing Financial Projections
Financial Projections Are:• Your “Best Guess” about the inflows
and outflows of money in
your business for the next 3-5 years. • Yes, everyone knows it
is a guess • Expenses should be estimated relatively easily •
Variable Costs are an educated guess • Revenues should be tied to
milestones
• Presented in a commonly accepted format • Documents that speak
a language of business in numbers • Documents that show your
thinking, assumptions will be tested
This can
be intim
idating
So, What is a Good Business?
• How do Bankers/Investors know? • How do you know? •
Comparisons to others
• ProfitCents • Risk Management Association – Statement Studies
• Industry Trade Groups
• Make your best guess FIRST, then check
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