Free Business Plan Course
This page contains our free online business planning course. It will teach you the basics of business planning and help you create a business plan template. You can also download the business plan template for free at the bottom of this page.
The Course Covers:
The basics of business planning
Fundamental documents and terminology
How to create a business plan forecasts & financials
Deep business planning insights and tips
Free business plan templates​
Everything you need to obtain finance ​
Help with writing a competent plan​
And much more
Course Modules:
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Lesson 1: Business Planning Introduction
Lesson 2: The Expenses Forecast
Lesson 3: The Sales Forecast
Lesson 4: The Asset & Liability Forecasts
Lesson 5: The Cash Flow Forecast
Lesson 6: Projected Profit and Loss Statements
Lesson 7: Projected Balance Sheets
Lesson 8: Writing a Business Plan
To start the online course, scroll down
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This course is FREE, and no registration is required. It is ideal for start-up businesses and companies seeking financing.
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Jump to:
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How to Create an Expenses Forecast​
How to Create a Sales Forecast
Business Plan: Accounting for Assets & Liabilities
How to Create a Cash Flow Forecast
How to Create a Projected Profit and Loss Statement
Business Planning Course: Introduction
Part 1: Business Planning Introduction
Module overview:
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Course Outline
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Course Aim
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Business Planning Basics
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And more
1.1 What is a business plan?
A business plan is a set of strategies, projections, forecasts, goals, and ambitions for a business or company. It provides crucial financial information about a company, along with detailed market research and growth plans.
1.2 Why do you need a business plan?
Before starting a business or planning for company expansion, there are many things to consider, such as:
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Is the business idea profitable?
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How much cash will the company need?
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What will be the cost of starting or expanding my business?
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How much will need to be invested?
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How will the company attract customers?
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How will the business be competitive?
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What is the company's marketing strategy?
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How much should the business charge for its services or goods?
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When should the business start?
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All of these questions, and many more, will be answered in a detailed business plan.
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It may sound clichéd, but the saying, 'if you fail to plan, you plan to fail' summarises the importance of business planning. To give a business every opportunity to succeed, ensure the company has a well-defined business plan.
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A business plan is also necessary for a company to secure bank financing or attract investors.
1.3 What should a business plan include?
A business plan covers at least twelve months of projections, forecasts, research and goals. Most business plans cover a period of three years (36 months).
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The plan is split into two parts: the business plan financials and the business plan notes.
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The financials include:
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Sales Forecasts
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Expenses Forecasts
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Cash Flow Forecasts
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Projected Profit and Loss Statements
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Projected Balance Sheets
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Other Financial Analysis and Projections
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The notes (or written business plan) include:​
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Information about the business, such as the business name, address, company structure, and company organisation
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Market Research
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The business's marketing strategies
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Business goals
1.4 How to Create a Business Plan
This course will cover everything you need to create your own business plan, complete with downloadable templates.
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Ensure you watched the first video: Getting Started with Business Planning.
Pitstop Practice!
Explain:​​
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What is a business plan?
Why is a business plan needed?
What does a business plan include?
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Need help? Outsource your plan to me!
Business Planning Course: Forecasts and Financials
Part 2: Creating an Expense Forecast
Module overview:
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How to create an expense forecast
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The expense forecast explained
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A list of common expenses
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And more
2.1 The Expense Forecast Explained
An expense forecast projects a company's expenses (overheads) for a specified period. This includes detailing all company expenditure on a weekly, monthly, or yearly basis.
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Expenses can be categorised to make the forecast easier to read.
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All expenses no matter how trivial, should be listed.
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The expense forecast will impact the cash flow forecast and the projected profit and loss statement, which will be covered later in this course.
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Please note that asset purchases shouldn't be listed on the expense forecast. Assets are not expenses. ​​
2.2 Typical Company Expenses
Common expenses include:
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Rent, rates, power and water
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Wages and salaries
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Printing, postage, and stationery
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Motor vehicles and travelling
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Insurance
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Bank charges and interest
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Accounting and legal costs
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Equipment hire
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Subcontractors
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Taxes
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Phone and internet
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Software
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Subscriptions
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Training​​
2.3 How to Create an Expense Forecast
An expense forecast will need to detail all business expenses over a specified period. It should categorise expenses and include totals. ​​
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For a step-by-step guide, watch How to Create an Expense Forecast.​
Part 3: Creating a Sales Forecast
Module overview:
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How to create a sales forecast
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The sales forecast explained
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And more
3.1 The Sales Forecast Explained
A sales forecast projects a company's sales (revenue/turnover) for a specified period. It can include sales from services and the sale of products, commissions and royalties received, interest earned, and capital gains.
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Having an accurate sales forecast is crucial as it heavily influences the cash flow forecast and projected profit and loss statement. ​
3.2 How to Forecast Sales
Projecting sales is tricky. Unlike expenses, which can be forecast with greater certainty, forecasting sales may seem somewhat uncertain. However, here are some tips for projecting sales with greater accuracy:
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If the business has previously traded, use historic sales data to forecast sales.
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Base your sales projections, or projected increase in sales, on the planned marketing for the business.
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Do thorough research into your business's industry and collect sales data.
3.3 How to Create a Sales Forecast
A sales forecast should detail and total sales over a specified period.
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For a step-by-step guide, watch How to Create a Sales Forecast.
Need Business Plan Templates?
Access my free business plan templates. They are all safe to download:
Part 4: Accounting for Assets & Liabilities
Module overview:
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How to account for assets and liabilities
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Assets explained
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Liabilities explained
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And more
4.1 Assets Explained
Assets are items owned by a company that have value. They are not expenses, which are often consumables.
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Common assets include​ machinery and equipment, tools, motor vehicles, inventory (stock), property, cash owed from customers (accounts receivable), and bank balances.
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Assets must be accounted for in a business plan. They are not an expense, but the purchase of assets will impact the cash flow forecast. They also impact the projected balance sheet. ​
4.2 Liabilities
Liabilities are something a business owes. They are not expenses.
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Common liabilities include loans, overdrafts, credit card balances, finance agreements, cash owed to suppliers (accounts payable), and other outstanding debts.
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Liabilities must be accounted for in a business plan. They are not an expense, but the payment or repayment of liabilities will impact the cash flow forecast. Additionally, payments or repayments of liabilities also affect the projected balance sheet.
Part 5: Creating a Cash Flow Forecast
Module overview:
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How to create a cash flow forecast
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The cash flow forecast explained
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Items that impact the cash flow forecast
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And more
5.1 The Cash Flow Forecast Explained
A cash flow forecast projects available cash at a given time. The purpose of the forecast is to ensure that the business consistently has sufficient cash to meet its cash needs, or at least remains solvent.
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A basic cash flow forecast will include opening cash balances, inflows, outflows, and closing cash balances.
5.2 Items included in Cash Flow Forecasts
A cash flow forecast projects the opening and closing cash balances for a specified period, as well as the inflows and outflows for the period.
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Money in should include the items from the sales forecast, such as sales, commissions, royalties, and interest earned. Money in will also include bank loans received, funds from investors, and equity (or capital) introduced by the business owners.
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Money out should include items from the expense forecast, as well as assets purchased, repayments of liabilities, tax payments, and drawings from owners. ​
5.3 How to Create a Cash Flow Forecast
A cash flow forecast should detail the opening cash balance at the beginning of a specified period, the total money received for the period, the total money spent for the period, and the projected cash balance at the end of the period.
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For a step-by-step guide, watch How to Create a Cash Flow Forecast.
Check List:
Have you created an expense forecast?
Have you created a sales forecast?
Have you created a cash flow forecast?
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If not, please do so before continuing.
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Need help? Outsource your plan to me!
Part 6: Projected Profit and Loss Statement
Module overview:
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How to create a projected profit and loss statement
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The projected profit and loss statement is explained
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Top tips and insights
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And more
6.1 The Projected Profit and Loss Statement Explained
A projected profit and loss statement shows a company's profit (or loss) for a specified period. It details sales and expenses.
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The statement shows total sales for the period, minus the total expenses for the period, giving an overall profit or loss for the period.
6.2 How to Create a Projected Profit and Loss Statement
The statement is created using the totals from the sales and expense forecasts. The cash flow forecast doesn't impact the profit and loss statement.
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For a step-by-step guide, watch How to Create a Projected Profit and Loss Statement.
Part 7: Projected Balance Sheet
Module overview:
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How to create a projected balance sheet
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The projected balance sheet explained
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Top tips and insights
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And more
7.1 The Projected Balance Sheet Explained
A projected balance sheet shows a company's assets and liabilities. In other words, what the company owns and what it owes.
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It lists all assets, liabilities, and equity.
7.2 How to Create a Projected Balance Sheet
For a step-by-step guide, watch How to Create a Projected Balance Sheet.
Business Planning Course: How to Write
Part 8: Written Side of the Business Plan
8.1 Business Plan Writing Introduction
Putting the business plan's financials aside, a business plan should include a written plan detailing crucial information about the business.
8.2 What should be included?
The business plan financials should include various forecasts and projections as covered above. The written side of the business plan should include:
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Basic company information. Where the business is located, who it's owners are, how long it has been trading, or when it will be launched, and contact details.
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Goals, plans, and ambitions. What is the purpose of the plan, and what are you trying to achieve.
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The business's marketing plan. Marketing plans, including costs and strategies.
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Market research. Necessary research relating to the business and its plans.
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Notes to the financials. Notes and summaries of the financials, including how much cash will be needed, and how profitable the business will be.
Next Step: The Ultimate Bookkeeping & Accounting Course
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Top Tips for Improving Company Cash Flow​
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