''By failing to prepare, you are preparing to fail'' - Benjamin Franklin

Process Steet’s Financial Plan Template is a guide to aid you through the process of producing a financial plan for your small business.

1

Introduction:

2

Record checklist details

3

Consider whether you would like an accountant to review your financial plan

4

Record accountant contact details

5

Profit and loss statement:

6

Consult your profit and loss statements

7

Calculate your current gross margin

8

List your current operating expenses

9

Calculate the relevant calculations for each month

10

Consider operating month: January

11

Consider operating month: February

12

Consider operating month: March

13

Consider operating month: April

14

Consider operating month: May

15

Consider operating month: June

16

Consider operating month: July

17

Consider operating month: August

18

Consider operating month: September

19

Consider operating month: October

20

Consider operating month: November

21

Consider operating month: December

22

Consider the relevant calculations for each year

23

Calculate the relevant calculations for each year

24

Display monthly calculations

25

Display annual calculations

26

Consider the key forecast values

27

Calculate forecast gross margin

28

Add forecasts to displays

29

Cash flow statement:

30

Calculate your cash flow for each operating month

31

Calculate your cash flow for each operating year

32

Display monthly cash flow

33

Display annual cash flow

34

Add forecasts to displays

35

Balance sheet:

36

Consider the balance sheet

37

Cumulative profit:

38

Calculate your cumulative profit

39

Consider your cumulative profit for each operating year

40

Calculate your forecast cumulative profit

41

Display your cumulative profit for each operating year

42

Add forecasts to displays

43

Check your forecasts:

44

Consult your forecast data

45

Investigate abnormal data points

46

Add real data to your model

47

Test your forecast data to the actual data

48

Choose the model of best fits:

49

Select your financial model of best fit

50

Personnel plan:

51

Create a personal plan

52

Business ratios:

53

Consider business ratios

54

Calculate the return on sales

55

Calculate the return on investment

56

Calculate the debt-to-equity

57

Calculate the current ratio

58

Calculate the working capital

59

Break-even analysis:

60

Calculate the contribution margin

61

Calculate the break-even point

62

Analyze financial plan:

63

Identify warning signs and areas for improvement

64

Create an action plan

65

Final stage:

66

Review documentation

67

Schedule a meeting with your accountant

68

Sources:

69

Related Checklists: