Eindhoven Startups Foundation9 December 2015

From Business Idea to Financial Plan

byJürgen van de Sande

Program

• Who I am / who is De Wert?

• Part 1: Write a business plan– You entrepreneur– Steps to become an entrepreneur– Startup traps– Startup tips

• Part 2: Get started on your financial plan– Template– Excercise

Who I am?

Jürgen van de Sande AA

accountant partner

starting companies and growers SMEsannual reports, fiscal declarationsfinance, structure/organization, acquisitionhuman resources, dwo and accountancy departments

OUR VISION

An entrepreneur’s life is full of important events. Like starting your company, growing or downsizing, cooperating or ending

your business. Each and every choice you make will affect the future of your company.

De Wert is your partner of choice. We have been supporting entrepreneurs since 1959 with accountancy, tax and HR advice, payroll and administrative services. Therefore, no matter what

phase your company is in: rest assured with De Wert.

Who is De Wert?

The first step is the hardest …

Little ones grow

Sometimes it hurts to let go

Part 1:

Write a business plan

You entrepreneur!

• From business idea to business concept• Entrepreneurial skills• My business idea (one-pager)• Market plan of the entrepreneur• Communication plan of the entrepreneur

• Financial plan of the entrepreneur

You entrepreneur!

You

CompanyMarket

Finance

Steps to become an entrepreneur

Make a business plan:– What are you going to do?– How do you want to do that?– Where do you want to do that?– How much start capital I need?– When does the customer pay?– What to insure?– And more and more …

What are you going to do when you wake up tomorrow morning?

Steps to become an entrepreneur

Arrange the finances:

– How much will cost my product / service me?

– What’s my selling price or fee?

– Arrange bank matters (account, internet banking, finance),

– What’s the expected profit?

Steps to become an entrepreneur

Arrange administrative matters:

– register at Chamber of Commerce;

– arrange tax matters;

– setup administration;

– settle patents and trademarks;

– settle (environmental) permits;

– apply general terms and conditions;

– arrange insurances.

Steps to become an entrepreneur

Which legal form will best suit the enterprise?

– one-man business (alone);

– partnership under common firm (with more than one person);

– private company (alone or with others).

Choice between liability and fiscal.

Startup traps

• Unclear agreements.

• Defaulters.

• No network.

• Too few customers (dependence).

Startup traps

• Too tight budget.

• Disappointing sales.

• Lack of administration.

• Keep your records up-to-date.

• Poor inventory management.

• Incomprehension family.

Startup tips

• Search partners.

• Set a target on promotion.

• Care for follow-up calls on promotional activities.

• Check your competitor.

• Focus on cash (cash is king).

• Dare to say goodbye to customers.

Startup tips

• Companies with a (business) plan grow faster and are more

sucessful.

• Compare your forecast with actual results frequently.

Startup tips

• Template for business plan and financial plan (in Dutch):

https://qredits.nl/ondernemerstools/ondernemingsplansjabloon/

• Template for business plan Chamber of Commerce (in English):

http://

www.kvk.nl/download/Download%20businessplan_tcm73-214600_tcm14-268816.doc

16 months late…

Part 2:

Get started on your financial plan

Template

Template

Template

Template

Excercise

• To white board and 14 columns paper

Questions?