1. Lim Sei Kee @ cK

3.  Allocate the time you need to do certain parts of the Business Plan - Use calendar / Planner / Diary / Journal - Create a deadline for specific tasks  If you are doing in a group, allocate specific tasks for a specified person

4.  Clear  Concise  Organized  Well laid out  Natural  Positive  Well interpreted facts  Do not jump to conclusions  Show sources  Proofread  Make it perfect

5.  15 – 20 slides  15 – 20 minutes  Keep it simple  Make it to the point  Tell a story  Dress professionally  Practice ◦ In front of mirror ◦ In front of someone

6.  Introduction (breaking the ice)  Existing problem/pain/situation  Solution (Product/service) you are providing  Market research and strategy  Who are involved  How you can succeed

7.  Its not just an idea, but a work in progress  You have the numbers to back you up  You have qualified people involved  Be passionate in your presentation

8. Financial planning means to prepare the financial plan. [@ capital plan] A financial plan is an estimate of the total capital requirements of the business. Financial plan gives a total picture of the future financial activities of the business.

9.  Taking a commercial business as the most common organizational structure, the key objectives of producing a financial plan would be to:  Create wealth for the business  Generate cash, and  Provide an adequate return on investment

10.  Accounting looks back in time, starting today and taking an historical view.  Business planning or forecasting is a forward-looking view, starting today and going forward into the future.

12. InflowsOutflows  Cash sales to customers  Receipts from customers who were allowed to buy on credit (trade debtors)  Investment by shareholders  Purchasing finished goods for re-sale  Purchasing raw materials needed for the manufacturing of the final product  Paying salaries and wages and other operating expenses

13.  The business uses cash to acquire resources (assets such as stocks)  The resources are put to work and goods and services produced. These are then sold to customers  Some customers pay in cash, but others ask for time to pay. Eventually they pay and these funds are used to settle any liabilities of the business.  And so the cycle repeats

14.  The cash needed to make the cycle above work effectively is known as working capital.  Working capital is the cash needed to pay for the day to day operations of the business.

15.  Financial statements:  A. the income statement,  B. the cash flow projection, and  C. the balance sheet  PLUS, a brief explanation/analysis of these three statements.

16.  The Income Statement shows your Revenues, Expenses, and Profit  Revenue - Expenses = Profit/Loss.

18.  Opening balance -How much cash business has at start of time period  Cash inflows - How much cash is coming into business from product sales, sales of assets, loans from bank, and other sources of finance  Cash outflows - How much cash is going out of business, such as expenses, wages, raw materials, buying new machinery, and dividends  Closing balance - How much money is left at end of month

20.  The Balance Sheet is the last of the financial statements that you need to include in the Financial Plan section of the business plan.  It summarizes all the financial data about your business, breaking that data into 3 categories; assets, liabilities, and equity.

21.  Assets are tangible objects of financial value that are owned by the company.  A liability is a debt owed to a creditor of the company.  Equity is the net difference when the total liabilities are subtracted from the total assets.

23.  Start with a sales forecast.  Create an expenses budget.  Develop the three financial statements.