Confirm opening of the external link

You are now leaving the official SCORE website. You will be redirected to a website beyond our control. This content will open in a new tab.

Please review their terms, privacy policies, and relevant information before engaging or providing personal details.

SCORE does not endorse or take responsibility for the content, accuracy, privacy policies, or practices of these third-party websites.
Cancel Continue
Use my current location
Our hearts go out to those affected by the recent wildfires. If you need help, SCORE mentors are here for you. You can also apply for disaster assistance at SBA.gov.
Simple Steps for Starting Your Business: Financial Projections
Online Course
Duration: 13 minutes Take the course
About the course

All business is risk vs. reward, and the financial planning process will help you assess both. Having a financial plan will not only help guide business development decisions and monitor results, but it will also help you match your business concept with personal income goals. In addition, the financial plan can be used as a budget and can be compared to actual results in the future.

In this module of the "Simple Steps for Starting Your Business" program, you'll learn the importance of financial planning.

You will learn how to build your financial model, and how to understand financial statements, including an income statement, cash flow statement and balance sheet.

"Simple Steps for Starting Your Business" helps you test the feasibility of your idea and decide whether or not you should move forward with your business or go back to the drawing board. You'll do this by researching industry profile data, customer data, financial projections, and more. You'll also have a sample feasibility plan to use as a guide. 

Have you skipped a module in this course?

You should also contact your local chapter and determine if the in-person workshops are available in your community. At these local workshops, you will have the opportunity to learn from local experts, connect with your personal mentor for free answers to your business questions, and meet other aspiring small business owners. 

And don't forget to download the "Simple Steps for Starting Your Business" workbook for more startup information. 

SCORE Volunteer Contributions

Thanks to the following SCORE volunteers who served as subject matter experts in the development of these "Simple Steps for Starting Your Business" eLearning modules!
SHARE THIS COURSE
Woman working at laptop
Financial Projections Template
Download this financial projections template to calculate your small business expenses, sales forecast, cash flow, income statement, break-even analysis & more.
CONNECT
712 H St NE PMB 98848
}
Washington, DC 20002
1-800-634-0245

Copyright © 2025 SCORE Association, SCORE.org

Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

Chat generously provided by:LiveChat

In partnership with