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Tips for Writing a Business Plan

Tips for Writing a Business Plan

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Published by James Brent

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Published by: James Brent on Apr 10, 2013
Copyright:Attribution Non-commercial


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The sheets in this workbook give you the flexibility to forecast 20 products or services across 24-months and
five years. The first step in preparing a sales forecast is to select one of many possible methods. Three
common methods are Simple, Market Size and Share, and Percentage Growth.

Projecting sales is difficult, particularly for a new business. The best advice is to be flexible. Project sales, but
continuously update the forecast. Here are a few suggestions for sales forecasting source data:

n Product vendors. If you are selling inventory, suppliers and wholesalers can provide projected
demand for the product.
n Trade publications and trade associations

n The U.S. Bureau of the Census

n Your own historical sales data compared to data from product vendors and trade associations.
Note dramatic changes that will affect your sales forecast. For example, changing demographics
or competitive factors can affect actual sales.

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