Connect with us

Worksheets

Personal Balance Sheet Worksheet

By filling out a personal balance sheet, you will be able to determine your net worth – your first step to funding your business.

Entrepreneur

Published

on

Personal balance and finances

Personal Balance Sheet Worksheet

Byfilling out a personal balance sheet, you will be able to determineyour net worth – your first step to funding your business:

Instructions:

  • Complete the Asset Analysis
  • Then fill out the Liabilities Analysis
  • Use the formula below to determine your degree of debt
Personal Balance Sheet Worksheet

Assets Analysis
Assets Detail Totals
Cash, Cheque and
Marketable Securities
Non-Marketable
Real Estate/Home
Partial Interest in Real
Vehicles
Personal Property
Personal Loans
Insurance Cash Values
Other
Total Assets A

Liabilities Analysis

Liabilities Details Totals
Secured Loans
Unsecured Loans
Credit Card/ Charge
Personal Debts
Current Monthly
Real Estate
Unpaid Income Tax
Other Unpaid Taxes
Other Itemised
Total Liabilities B
Net Worth (A-B=C) C
Total Liabilities & Net Worth D

Degree of Debt Analysis
If total liabilities exceed total assets, subtract assets from liabilities to determine degree of debt (B – A = E)

Total Liabilities B
TOTAL ASSETS A
DEGREE OF DEBT E

Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.

Worksheets

Start-Up Costs Worksheet

The following two worksheets will help you to compute the initial cash requirements for your business.

Entrepreneur

Published

on

20-feature-image-start-up-costs-worksheet

Start-Up Costs Worksheet:

Instructions

  • These two worksheets list the things you need to consider whendetermining your start-up costs.
  • The first worksheets includes the one-time initialcosts needed to open your doors.
  • The second worksheet covers ongoing costs you’ll face eachmonth.

Capital Requirements: One-Off Start-Up Expenses

Start-up Expenses Amount Description
Advertising Promotion for opening the business
Starting inventory Amount of inventory required to open
Building construction Amount per contractor quote and other
Cash Amount needed for the cash register
Decorating Estimate based on quote if appropriate
Deposits Check with utility companies
Fixtures and equipment Use actual quotes
Insurance Quote from insurance agent
Lease payments Fee to be paid before opening
Licenses and permits Check with city or municipal offices
Miscellaneous All other
Professional fees Include CPA, attorney, etc.
Remodeling Use contractor quotes
Rent Fee to be paid before opening
Services Cleaning, accounting, etc.
Signs Use contractor quotes
Supplies Office, cleaning, etc. supplies
Unanticipated expenses Include an amount for the unexpected
Other
Other
Other
Total Start-up Costs Amount of costs before opening

Capital Requirements: Ongoing Monthly Expenses

Start-Up Expenses Amount Description
Advertising
Bank service fees
Credit card charges
Delivery fees
Dues and subscriptions
Health insurance Exclude amount on preceding page
Insurance Exclude amount on preceding page
Interest
Inventory**
Lease payments Exclude amount on preceding page
Loan payments Principal and interest payments
Office expenses Payroll other than owner
Payroll taxes
Professional fees
Rent Exclude amount on preceding page
Repairs and maintenance
Sales tax
Supplies
Telephone
Utilities
Your Salary If applicable for first three months
Other
Total Ongoing Costs
Total Start-up Costs Amount from preceding table
Total Cash Needed

*Include the first three months’ cash needs unless otherwise noted.
**Include amount required for inventory expansion.

If inventory is to be replaced from cash sales, do not include here. Assume sales will generate enough cash for replacements.

Continue Reading

Worksheets

Conduct a Personal Evaluation

Thinking of starting a business, but not sure which path to follow. Take a few minutes to do a personal evaluation of your goals and resources.

Entrepreneur

Published

on

ConductPersonalEvaluation

Take a few minutes to do a personal inventory of your goals and resources. Think about what it is that really lights your fire. Passion is a driving force in our lives, and that’s never as true as in business ownership. If you have a passion for your work, it’ll carry you far.

If you need help assembling this personal evaluation information, sit down with a trusted friend, an advisor, your spouse or someone you know with business experience, and outline your resources, strengths and weaknesses, as well as your financial resources. Talk through the concept and listen carefully. You need a reality check here. Don’t necessarily accept what you hear, but take it into account.

  1. What type of business activities play to your strengths?
  2. Can your advisor see you pursuing a certain type of business?
  3. Would you be better suited for a business-to-business sales situation or a retail setup?
  4. Are you good with people, a good public speaker?
  5. Are you detail-oriented?
  6. Can you afford to run a business?
  7. Can you afford to fail?
  8. What’s your level of risk tolerance?

This information will be very helpful when you start to narrow your business search. By maintaining a clear focus on your fundamental interests, you won’t be pulled off-track by the distractions you encounter during your quest.

Continue Reading

Worksheets

Business Idea Analysis Worksheet

This worksheet will help you analyse your new business idea and determine how successful you will be if you enter a given business and sell a given product.

Entrepreneur

Published

on

Lightbulb ideas

Business Idea Analysis Worksheet:

Before you can begin to write your business plan, you may need help figuring out which business idea to go for and if it’s worth pursuing. This worksheet will assist you in finding the best business idea for your new business.

Instructions:

  • Assign each business opportunity and product a column number.
  • Answereach question along the left-hand side of the form assigning a ratingof 1-3, with 3 being the strongest.
  • Total each column after you’vefinished.
  • The opportunity and product with the highest total pointsare your strongest candidates for success.

Business Opportunity Analysis

Business
Op 1

Business
Op 2

Business Op 3

Business Op 4

Relevance of your previous experience to opportunity
Familiarity with the daily operations of this type of business
Compatibility of business with your  investment goals
Compatibility of business with your income goals
Likely profitability of business
Likelihood of business to meet your desire for personal fulfillment
Projected growth for the industry
Acceptability of risk level
Acceptability of hours you will need to work
Column Totals

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending