Breakeven & Cashflow - Deciding if My Small Business Idea is a Win-Win or Bust! - Overview - Online
You’ve worked hard to evaluate the need for your new product or service idea. The next step is to determine whether to implement the idea. Outside of considering the competition that exists for your product or service, how will you know how much to charge? A cashflow spreadsheet and breakeven analysis are essential budgeting tools that will benefit you as (1) a potential entrepreneur who is evaluating a business idea, or (2) an existing small business owner who has not reached your full potential or who wishes to explore new income streams. Once completed, these tools will include your startup expenses, capital needs, operational costs, and anticipated revenue to determine whether your idea will be profitable or whether you need to pivot or totally set aside your plans. Don’t waste any of your life’s savings until you can prove by the numbers that you will be profitable!