Start-Up Costs Worksheet:
- 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
|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|
|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|
|Total Start-up Costs||Amount of costs before opening|
Capital Requirements: Ongoing Monthly Expenses
|Bank service fees|
|Credit card charges|
|Dues and subscriptions|
|Health insurance||Exclude amount on preceding page|
|Insurance||Exclude amount on preceding page|
|Lease payments||Exclude amount on preceding page|
|Loan payments||Principal and interest payments|
|Office expenses||Payroll other than owner|
|Rent||Exclude amount on preceding page|
|Repairs and maintenance|
|Your Salary||If applicable for first three months|
|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.
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.
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.
- What type of business activities play to your strengths?
- Can your advisor see you pursuing a certain type of business?
- Would you be better suited for a business-to-business sales situation or a retail setup?
- Are you good with people, a good public speaker?
- Are you detail-oriented?
- Can you afford to run a business?
- Can you afford to fail?
- 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.
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.
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:
- Complete the Asset Analysis
- Then fill out the Liabilities Analysis
- Use the formula below to determine your degree of debt
|Personal Balance Sheet Worksheet
Degree of Debt Analysis
Mission Statement Worksheet
To develop an effective mission statement, ask yourself these three questions:
Mission Statement Worksheet:
Are you starting a new business?
If so, you’ll have to develop an effective mission statement.
To do so, work through these steps:
|1. Why does our company exist? Who do we serve? What is our purpose?
2. What are our strengths, weaknesses, opportunities and threats?
3. List three ideas based on your special niche (e.g. affordablechildren’s special occasion clothes, exclusive designs for the smallrestauranteur, aromatherapy for the office environment):
4. What is important to us? What do we stand for?
Now that you’ve answered those questions, you are ready to write your own mission statement.
Use the area below:
Self Development1 week ago
5 Inspiring Quotes From Madiba To Stir You Into Action On Mandela Day
Entrepreneur Profiles2 days ago
Karl Westvig Of Retail Capital Shares His Insights Into A Year-On-Year Double-Digit Growth Business
Angel Investors7 days ago
A Comprehensive List Of Angel Investors That Fund South African Start-Ups
Lessons Learnt4 days ago
11 Things Very Successful People Do That 99% Of People Don’t
Ongoing Learning4 days ago
15 Of The Best And Most Unusual Online Courses For Entrepreneurs
Small Business1 week ago
Even SMEs Can Use Big Data: Here’s How
Company Posts2 weeks ago
We Want To Invite You To Join Us On The Hi-Q Journey And Become A Franchisee
Strategy1 week ago
There’s More To Team Management Than Leadership