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When developing a budget, it is important to estimate profits annually for the next three years as well as to develop a detailed month-by-month budget of sales, expenses, and cash flow amounts for the same three years.
Bootstrapping is a tactic to help you spend less cash and therefore need less to operate your business. This article discusses ways to bootstrap your business operations.
This article discusses the advantages and disadvantages of obtaining needed cash through internal sources. It also discusses specific sources that typically provide internal cash.
As you read this article, consider the critical preparation necessary to approach bankers and investors with your business proposal.
This article will provide you with a starting point for understanding your financial statements. In it you will find guidelines for the type of information you need and suggestions on how to review it.
To succeed in business, entrepreneurs must understand the language of business, which enables them to evaluate financial reports and make better decisions.
Budgeting, forecasting, and projecting mean fundamentally the same thing--estimating future amounts based on information you already know.
Historical financial information can be a great tool to jumpstart the budgeting process if care is taken to adjust for any incorrect or misleading information.
Compare actual financial figures to your budget at least monthly. You may need to adjust the budget during the year to reflect new information.
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