CVCC Small Business Center: Developing Financial Projections for your Business Plan 3/29/23

You’re working hard to evaluate the need for your new product or service idea. The next step is to determine whether to implement the idea. Outside of considering the competition that exists for your product or service, how will you know how much to charge? A cashflow spreadsheet and breakeven analysis are essential budgeting tools that will benefit you as a potential entrepreneur who is evaluating a business idea. Once completed, these tools will include your startup expenses, capital needs, operational costs, and anticipated revenue to determine whether your idea will be profitable or whether you need to pivot or totally set aside your plans.