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Bussiness Plan?

by RobRamos
2 replies
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I am creating a business plan for my Internet and Network Marketing business. But How can I create projections for financial predictions in a business with so many variables. What do you think or suggest?
  • Profile picture of the author lorrainelim
    Maybe you should get an expert from LivePerson.com. There are many people who offer their services there.
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  • Profile picture of the author Peter Bestel
    Rob

    Creating projections for ANY business, unless it has a track record that you can refer to, is largely a guessing game.

    Whilst it's not simply a matter of plucking figures from mid-air, you do have to start with educated estimations. You start with as many known variables as possible and work forwards from there. You might be able to research the likely conversion rates of your niche for example and you'll know the promotion methods you'll be using and their cost implications.

    It is sometimes worth creating more than one set of projections, maybe even three; a conservative, average and optimistic forecast.

    The important thing is to have an 'actual' set of blank sheets that you can fill in and compare to your predictions. Monitoring, recording and tweaking is what's required.

    Peter
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