Deliverables for this assignment are:
1. Business Model & 2. Financial Goals
The initial stage of your business plan entails taking your vision about your entrepreneurial venture and establishing a roadmap for creating it through fruition. An integral part of the business plan is to develop a business model. Simply put a business model describes how a company plans to make money. It is not what you do, but how you will make money doing what you do. The actual financial results come from your company as a money-making machine (Meyer, & Crane, 2014).
A solid business model is the link between the venture strategy and financial plans. Projecting the financial performance and requirements can be classified as financial goals of the venture. There are four (4) key deliverables in the financial planning phase for most ventures: (a) a five-year detailed projection revenue, (b) a five-year Pro Forma P&L, (c) a five-year Pro Forma Cash Flow Statement, and (d) a fiveyear Pro Forma Balance Sheet (Meyer, & Crane, 2014).
You are to develop a 1.) Business Model and 2.) establish Financial Goals