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entrepreneur checklist
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entrepreneur checklist
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The ideas of a business originator are the basis of the finance planning over
Product, market and competition,
Capability of the entrepreneur and the team and
Costs of the preparation and commercial exploitation of the product
Costs of the required one own - and outside capital.
The finance planning concentrates these ideas in a pay work. If the business is established, the finance planning is the central control and steering instrument of the management.
Frequent mistakes at the business planning are
Unrealistic sales trend
Overlooks of important cost types like add-on costs
Disproportionate capital requirement
Bankers, investors, VC´s are experts and often notice finance planning mistakes fast... Also therefore, special diligence is necessary with the planning. Through a careful finance planning, you can simulate the course of your undertaking without entrepreneurial venture.
Whoever wants to establish his/its business with help of outside capital already now becomes at the banks after Ratingkriterien.
The quality of the finance planning can determine the costs of the funding already in the foundation or worst case a funding prevents.
The most important addressee of the finance planning is the business originator: the finance planning includes: profitability, liquidity, personal capital. And after the start of the intent, counter-measures can compare the reached result with the predicted numbers and are seized in the case of doubt in time.
Finance planning
Liquidity planning with ID card this of capital requirement
Profit and loss calculation
For the decision on the start of an intent and the presentation, an elaborate planning basis is necessary with investors like for example banks.
You/they especially must wonder whether the planned turnovers are realistic and whether it is possible to convince an investor for an investment in the calculated funding volume.
Easy Check:
a. Complaint of products and markets
b . Turnover prognosis for the only three years (without VAT)
c. Extra profits and expenditures
d. Material cost quota (Bsp.): The material costs for the production of a chip are 100 €, the turnover per chip is 500€. Material costs: 20 percent.
e. Foreign performances is services, that you buy from third parties, that stand directly with your production in context. Leiharbeiter are among it, for example.
f. Other operational expenditure please in each case as monthly values inputs. The program then calculates quarter and yearly numbers.
g. Declare the total of the new investment of the respective period.
Capital service:
h. Declare the foundation capital at beginning. For the consequence periods, you write down again flowing personal capital if necessary, for example from further partners.
i. With the loans, you proceed as well. Here, it is necessary to write down according to the hit agreements, interest and satisfaction. A demand is proved in the complaint side at capital, you increase the loans or check you the turnover planning.
Personal capital quota:
At a business foundation, the relationship of personal capital to entire funding should be bigger than 30 percent. This is the best prerequisite for the continuance protection. One to low personal capital quota can through new personal capital - for example from a new partner - or is increased a better turnover and profit development.
Blame satisfaction:
The earlier you can pay back your loans, the better. A lender expects that you deleted his/its loan within 5 - 10 years.
However, public money have a clearly longer term of until 20 years. Moreover, you are offered with more favorable interests, that are solid over the entire term.
Liquidity reserve
The relationship between liquidity reserve and the total disbursements should be in a way that you are sure before unpleasant Surprises, but not also unnecessarily liquidity lasts.
One to low liquidity reserve can be improved by an increase of the current account customer line of your bank or a long-sighted loan, for example.
Cashflow accomplishment installment: the cashflow accomplishment installment is an important index of banks. The liquid means, that remained remaining after the turnover activity of a business, are assessed with this code.
Both the total capital profitability as well as this cashflow - accomplishment installment can be influenced by an improvement of the sales trend decisively.
The personnel extra expenses should be passed out with 30 percent of the net wages.
Advertisement and PR
Advertisement needs the smallest business, whoever doesn't advertise her/it dies!)
Bigger companies invest much money into her/its/their advertising budgets. It lets itself however recruited effectively also with a small budget: important is a reasoned advertising concept, good ideas and the right partner.
Again, whoever doesn't advertise that dies
The marketing mix is the decisive instruments for the business success.
Communicate your know-how, communication is an investment, that itself rather middle - until long-term disburses. This is called for existence originators: who immediately of beginning at funds for the advertisement the topic strategically plans on and comes on, invests into the future. It should be invested approximately five to ten percent of the annual turnover in advertisement, Experten guess.
Whoever would like to approach professionally at the matter should include advertising pros into the decision making, for example a creative office, a PR or advertising agency. A first advice at a small agency is free in normally; the agencies debits it under Aquise." Nevertheless you should prepare carefully for this conversation since strategic results can hardly be achieved for the procedure otherwise.
Plans first, then, you advertise well in silence what you would like to reach and you write it the best down. One" calls Briefing" such a coarse beforehand concept - the canvassers wants to know completely exactly, where it should go:
Particularly which performance which would like product quality you what distinguishes you of Unique Selling Proposition (unique sale advantage) from the competitors (USP) puts out,
What is the communication goal (image) sells more, fast known becomes, etc,
How much money can you spend on it?
Which advertising means are meaningful already frequently results from the reply of these questions.
Let played imagination and contacts: maybe gives it in your friend or friend circle a graphic artist, who develops the logo for your company appearance for a more inferior honorarium with you together. Ask in your networks whoever did good experiences with inexpensive suppliers of PR and advertising performances.
Possibly, you can offer also an exchange of services.
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