How can business owners project 3 year revenues and maintain a steady flow of revenue?
On today's episode we discuss ways to project finances and revenues for future and ways by which individuals and business owners can set up systems to effectively calculate future cash flows. We also go over how business owners can generate a steady income.
Our question for today's episode is from our student, Jimmy, who is securing a SBA loan and wants to calculate the next 3 year cashflows. Jimmy is also getting started on his drone business and wants to know how to generate a steady income in a drone business.
Thank you Jimmy for the question. We delve into understanding how business can plan their forward looking projections through rational means and assumptions. We emphasize how business owners can plan and calculate revenues from services and goods while also understanding how to calculate and identify expenses through ChatGPT and AI. Rob explains how business owners can develop tools to provide rationale for services and how you charge clients in your business.
Rob also shares his Spreadsheet Calculator that he used for developing a projection model when starting Drone U and how business owners can use the tool to build their forward looking plan. (Please reach out to support@thedroneu.com if you have questions)
Tune in to this detailed and informative podcast on how you can project your business earnings when obtaining an SBA loan and developing a strong revenue/cash flow model for your business.
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Timestamps:
[05:20] Today's question on calculating future cashflows and generating steady earning from a drone business
[06:25] Ways to calculate future cashflows from business when securing SBA loans
[07:48] Why is important to understand cashflows and how Drone U calculated its projections (refer description for file link)
[17:51] The benefit of running a business while understanding your strengths and weakness and leveraging business partners and other stakeholders