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Small business planning can be difficult. There are so many things to consider, including financing, operations, expansion, marketing, and sales. But one of the most important tasks is getting business projections up on paper. If you're not a numbers person, this can be a frustrating situation. This article will discuss the significance of getting a business projection for your small business.

First, what exactly are projections? Business projections allow you to see where your business is going, both financially and historically. Typically, business growth is modeled through two primary models. One model shows business growth as a straight line; the other model incorporates a random volatility component. These models can be useful for budgeting and forecasting, but they really can't do a good job of projecting where your business is going. Fortunately, there is a third model that can be used with very good results.

Why use projections? Mainly, projections come in handy when you can't seem to make head or tail of where your business is going. It can also be used as a negotiating tool when you're working with financing companies. A good planner can give you a very clear picture of where your business is going so that you can negotiate a better loan term or get a lower interest rate.

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Which small business planning tools should you use? My recommendation is to purchase an online planner. You'll have access to many different models, and you'll be able to download them into your calendar. The planner will include: business growth graphs, multiple regression projections, and other financial tools. Best of all, you won't have to pay for the service (aside from a one-time fee for unlimited use) which can save you hundreds over the life of your small business.

Why should you take advantage of online planning? For starters, you can access these resources anytime you want and anywhere you're Internet-connected. You can also customize each plan to reflect your specific business needs. This makes them infinitely more valuable. Just imagine how much time you'd save if you could easily modify one of these documents to work for you instead of having to rewrite a whole chapter about your business's history!

Also, it's easy to customize the features within these financial guides. Most offer basic spreadsheet and line-chart functionality so that you can track your income and expenses. You can also select the size of the business and target a certain percentage of that total gross revenue. These are simple things that can make a huge difference in your results. Once you're familiar with the process, you'll quickly understand that customization goes a long way towards making your projections accurate.

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So how do you use your Small Business 2100 planners? In order to get the most out of them, you must understand that they're not “one size fits all.” Each of your projections should be customized to fit your particular business. Even if you're only projecting short-term goals, such as an increase in your profits or new customer acquisitions, they should still reflect your business's needs at that point in time. Otherwise, you're simply projecting future performance based on past results.

The Small Business 2100 isn't just a standard business growth outline. Rather, it's a powerful planning tool that allows you to quickly and easily look at your small business growth goals and examine their likelihood of becoming reality. By closely examining your business' current situation along with its potential for growth, you'll become far more effective at making strategic and tactical decisions that will help your business grow. Best of all, this process will lay the foundation for future success.

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