A business projection is essentially your business plan in numbers. It is one of the most useful tools for startups and early stage small businesses to successfully navigate the business journey.
Ultimately, it is a process of estimating how much capital will be required to grow your business at a sustainable rate in its early 1 to 3 years of life. Without financial projections, business’s risk imploding due to a lack of finances before they get past that initial growth phase.
However, at Eagle 1 Accountants, we provide business owners with the budgeting and forecasting tools they need to have a clear roadmap to growth.
Whether you’re in the early stages of growing a brick-and-mortar small business or a high-growth tech venture, we will help you develop a business projection that gets you where you want to be.
Business Projection Benefits
Business projections are not only important tools for growing your business sustainably, they also help you to:
Without cashflow forecasts and other projections in place, a business can grow too fast for its own good. By anticipating future cashflow shortages, you can know to take preemptive actions such as getting an overdraft from the bank or seeking investors.
A business projection isn’t merely a prediction; it implies a commitment to making the projected results real and establishes milestones to measure your progress.
Variances from your business projections provide early warning signs of problems. When you see variances occur, the projections will tell you the financial impact as well as the corrective actions.
How Eagle 1 Can Help
At Eagle 1, we have not only gone through the early stages of the business journey ourselves, but we have also helped other business owners navigate theirs. And now, it’s our turn to help you.
We will work with you to establish a business projection to help you plan for the future and navigate those bumps in the road. With Eagle 1, you’ll get the right advice when you need it, from the right people to help you grow.
