One of the most important steps in launching a new business venture is fashioning a well-designed, practical, realistic financial plan.” (Scarborough & Cornwall, 2015, p. 454).

Overview

With this assignment, you are creating two important elements of a financial plan: an Income Statement and Balance Sheet. You also are preparing an outline of a presentation of your business plan to potential investors or lenders.

Instructions

write a 3–4 page paper in which you:

1. Prepare a simple pro forma (projected) income statement and balance sheet for the first two years of operation, using income projections and incorporating an advertising plan.
2. Outline a plan for hiring and retaining competent, motivated employees for your business.
3. Prepare an outline for a “pitch,” i.e., a short 20–30 minute business plan presentation that will be made to lenders or investors.
4. Include at least two references outside the textbook.