Financial Section of Business Plan - Virtual Assistant Forums

splarske · #1 (**permalink**) 02-05-2010

I am the first to admit that I am not a financial guru. Thus, I'm having a very difficult time preparing this section of my financial plan. Is there anyone on the forum who would be willing to share theirs with me so I can get an idea of what I should be including?

I've searched the internet and see plenty of high-level overviews of what is included on a balance sheet, profit and loss statement, break-even analysis, etc. but can't find a good source of this information in plain english at a version written for a non-financial person.

I would appreciate any help anyone is willing to give me.

PS - I start my Accounting Fundamentals class on 2/17. I am a firm believer in challenging myself and since this is a weakness, I feel I have to jump in there and learn it before I open my business.

Thank you in advance for your help.

Office Goddess · #2 (**permalink**) 02-08-2010

You truly don't need a complicated 'financial plan' to start with unless you are seeking funding or loans to start your business. I recommend you start with a simple budget - list your expected income and then your known and anticipated expenses. I also suggest you use bookkeeping software to track your business as these will generate your P&L, etc. for you.

Raydaw · #3 (**permalink**) 02-09-2010

I'm quite happy to help you (FOC of course). I'm a bit of a whizz with Excel and enjoy playing with numbers (modest too!). Get in touch via email and I'll send you something.

Good luck

Rachel