Chapter 2: Creating a Business Plan
IN THIS LESSON
Let’s take a moment to learn more about creating a financial plan.
A strong financial plan is the backbone of your business. This lesson will introduce you to basic financial concepts such as income statements, balance sheets, and cash flow. Understanding your finances will allow you to manage your expenses, plan for taxes, and make informed decisions.
Start by creating a budget that includes your projected income and expenses. Be realistic about your costs and conservative with your income estimates. Use simple tools like Excel or free accounting software to track your finances.