Basic Financial Statements, Cash Flow, And Why You Should Write A Business Plan
In this episode of the Startup Daddy podcast, I talk about the importance of writing at least a basic business plan, and how to tackle some basic financial statements: Startup Expense Table, Break-even Analysis, and Cash Flow Statement.
When you write a business plan, the process is the juice. Going through the research and thought necessary to complete the plan is what you get the most out of. That’s why I give away the business startup tool kit when you sign up for my newsletter. I want you to do this and I want to make it easier for you to do this.
You need to have a solid grasp on your financials to succeed. So in this episode I talk about a few of the important financial tables you need to understand- the Startup Expense Table, the Break-even Analysis table and the Cash Flow Statement.
This episode’s Time Saver Quick tip is about Google’s Wonder Wheel- a graphical flow chart of search results that is great for brainstorming.
Listen here:
Download the Mp3 for this episode (right-click link and select “save link as”)
Love your podcast — keep it up…!
The topic for this episode is very timely as I'm doing a lot of analysis / planning for a potential franchise opportunity.
I see that you have been a franchise business owner — any advice that you can convey on this topic would be appreciated! (How to find the best opportunity for you, how to evaluate if its a sound business for you, what to watch out for, etc…) I'm sure this is a hot topic as many displaced corporate executives are now looking at these types of opportunities.
Thanks. I am glad you found it helpful.
I think doing a show about franchises is a great idea and I have added
it to my “podcast episode ideas” Google Doc.
Good luck!
Thanks! I am glad you found it helpful.
I think doing a show about franchises is a great idea and I have added
it to my “podcast episode ideas” list. Thanks for the suggestion.
Good luck!