Cosmopolitan (UK)

MONEY, MONEY, MONEY

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Next up, the finances. “You should understand how much money you need to start your business, and the impact that will have on your current situation. Create a personal survival budget and a financial forecast within your business plan, on Excel or via an accountant.” Once you know what money you need to survive, work out how many products or services you’ll have to sell a month to offset this, and revenue prediction­s. “Doing this at the planning stages should help you avoid any early financial issues.”

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