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Eindhoven Startups Foundation9 December 2015
From Business Idea to Financial Plan
byJürgen van de Sande
Program
• Who I am / who is De Wert?
• Part 1: Write a business plan– You entrepreneur– Steps to become an entrepreneur– Startup traps– Startup tips
• Part 2: Get started on your financial plan– Template– Excercise
Who I am?
Jürgen van de Sande AA
accountant partner
starting companies and growers SMEsannual reports, fiscal declarationsfinance, structure/organization, acquisitionhuman resources, dwo and accountancy departments
OUR VISION
An entrepreneur’s life is full of important events. Like starting your company, growing or downsizing, cooperating or ending
your business. Each and every choice you make will affect the future of your company.
De Wert is your partner of choice. We have been supporting entrepreneurs since 1959 with accountancy, tax and HR advice, payroll and administrative services. Therefore, no matter what
phase your company is in: rest assured with De Wert.
Who is De Wert?
The first step is the hardest …
Little ones grow
Sometimes it hurts to let go
Part 1:
Write a business plan
You entrepreneur!
• From business idea to business concept• Entrepreneurial skills• My business idea (one-pager)• Market plan of the entrepreneur• Communication plan of the entrepreneur
• Financial plan of the entrepreneur
You entrepreneur!
You
CompanyMarket
Finance
Steps to become an entrepreneur
Make a business plan:– What are you going to do?– How do you want to do that?– Where do you want to do that?– How much start capital I need?– When does the customer pay?– What to insure?– And more and more …
What are you going to do when you wake up tomorrow morning?
Steps to become an entrepreneur
Arrange the finances:
– How much will cost my product / service me?
– What’s my selling price or fee?
– Arrange bank matters (account, internet banking, finance),
– What’s the expected profit?
Steps to become an entrepreneur
Arrange administrative matters:
– register at Chamber of Commerce;
– arrange tax matters;
– setup administration;
– settle patents and trademarks;
– settle (environmental) permits;
– apply general terms and conditions;
– arrange insurances.
Steps to become an entrepreneur
Which legal form will best suit the enterprise?
– one-man business (alone);
– partnership under common firm (with more than one person);
– private company (alone or with others).
Choice between liability and fiscal.
Startup traps
• Unclear agreements.
• Defaulters.
• No network.
• Too few customers (dependence).
Startup traps
• Too tight budget.
• Disappointing sales.
• Lack of administration.
• Keep your records up-to-date.
• Poor inventory management.
• Incomprehension family.
Startup tips
• Search partners.
• Set a target on promotion.
• Care for follow-up calls on promotional activities.
• Check your competitor.
• Focus on cash (cash is king).
• Dare to say goodbye to customers.
Startup tips
• Companies with a (business) plan grow faster and are more
sucessful.
• Compare your forecast with actual results frequently.
Startup tips
• Template for business plan and financial plan (in Dutch):
https://qredits.nl/ondernemerstools/ondernemingsplansjabloon/
• Template for business plan Chamber of Commerce (in English):
http://
www.kvk.nl/download/Download%20businessplan_tcm73-214600_tcm14-268816.doc
16 months late…
Part 2:
Get started on your financial plan
Template
Template
Template
Template
Excercise
• To white board and 14 columns paper
Questions?