For Week 7, Business Plan, you are to complete your financial projections and provide your assumptions and critical risks that may or may not affect the success of your startup business. In this section, you are to tell your readers about alternative plans if your projections are not met. Identify an exit strategy, if you will have one. Not every business owner wants to exit their startup business, but if it is your plan to start the business and exit within a period of time, explain that strategy.
The financial section is completed during this week to include:
1. A balance sheet – your projected assets and liabilities for your startup, and the projected equity of the organization.
2. Projected income statement for year 1, 2, and 3. Your are to projected your annual revenues and expenses for the startup based on your product identified and customer base.
3. Cash flow statement, your projected cash flow in and out of the business for year 1.