Here are some tips and tricks for Financial planning we’ve picked up over the years: 

  • If you are creating a Business Plan for a financial institution (for a loan) or grant provider, find out exactly what their requirements are for their application in terms of a financial plan. They may want you to use their own Business Plan template, or else just sit down with an analyst and fill in on online request together. It’s worth talking to them first to understand what they are looking for. 
  • SWOT stands for Strengths, Weaknesses, Opportunities, Threats. If you have difficulty identifying the risks to your business, consider conducting a SWOT analysis first. Often Risks will fall out of the Threats portion of that process. To find out about the SWOT process, just Google, there is a stack of information online. 
  • Assumptions are not excuses for not doing the research, and if you don’t have a justification for your assumption it is nothing more than a hunch. Completing an Assumptions Table fully won’t just help the analyst evaluating your loan request, but it willl show you where you need to dig deeper.
Please join me in the final video, to wrap up.   

Let's get digging! Subscribe To Claim Your FREE Gifts

Join our mailing list to receive your free gifts. We'll also send you occasional emails with more helpful small business tips, advice, and news.

Please check your inbox to confirm your subscription!