Deliverables for this assignment are: 1. Major milestones for your company (see below) 2. Projection of financial performance (see below)
At this point in the business plan we are still moving towards the back-end by providing Major Milestones of your business venture. This segment of your business plan is crucial in securing funding by enhancing your selling effort of your new venture to prospective investors, including banks. It presents the major milestones that your business is committed to achieving with the specific round of financing. This needs only be a page featuring a task list with key dates. We also like to see a sentence or two on how to mitigate the risk of these key milestones at the bottom of the page (Meyer & Crane, 2014).
Projecting the financial performance and requirements for the venture is related to the major milestones. It is necessary to translate your business model into actual numbers by projecting revenues, expenses, operating profit, income, expenses, cash flows, capital investments, and related startup costs. It is important to ensure that these projections are in alignment with your business model and related strategies to compete as a new business venture. Stated in another way, it is imperative that you develop meaningful financial projections and offer different approaches for financing your new venture and for analyzing costs, expenses, and profits.
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