Can I Make Money? Building A Financial Forecast

Before using your hard-earned cash to start a new business, buy a business or improve your existing business it helps to know if putting your cash in the bank would reap better rewards. Learn how to model your business performance by creating a simple pro-forma income statement. 

After completing this workshop, you will have a better understanding of boxes #8 and #9 of the Business Model Canvas, "Cost Structure" and "Revenue Streams", as explained by SCORE mentors.

Why Create a Pro-Forma?

If you plan to start a new business:

  • How much money will you spend before opening the doors?
  • How long before you start making money?
  • Which products/services will make you successful?

If you plan to buy a business:

  • Historical results are in the financial statements.
  • Where are the strengths and weaknesses?
  • Going forward, how will you build on the strengths and eliminate weaknesses?

If you want to improve your existing business:

  • Change your business model to make more profit.
  • Perform scenario planning in times of uncertainty.

View and download the presentation PDF here.

About the Author(s)

 Joe  Anziano

Joe had been a manager and engineer with Digital Equipment, Quantum and Waters Corporation. With no experience in the printing business, Joe worked under a national franchise organization for two years and spent the last eight years as an entrepreneur with Advantage Print & Design.

Certified Score Mentor
 Steve  Rogers

Steve spent 25 years in the Telecom Industry before becoming a business consultant. He is now semi-retired; working part time for two of his past consulting clients. During his 25 years in telecom he worked in Canada, Europe, Asia, and the US rising to GM of a $1B business.

Certified Score Mentor
Can I Make Money?