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The Numbers and Benchmarks

The Numbers

As we've said, businesses run on numbers. It is the only way to tell if you are profitable and it the business is not profitable, it is not worth your time. You have already made a revenue model, so you know what it will take to break even and what is needed to make your desired profit. Eventually, you will have to learn about profit and loss statements (P&Ls), balance sheets and cash-flow statements. We have added accounting courses that will go into this subject in more detail. For the purposes of your business plan, a summary of your projections will suffice.

Future Benchmarks

The good businessperson not only maps out his current business plan, but also looks to the future also. This section of the plan should take into account a list of projected multiple revenue streams and the products or services that will generate those revenue streams. Each one of these revenue streams should be treated as a separate business plan and a full analysis done to test its viability.