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You are now set to enrich your business plan with crucial “financing information” in Google Docs. This integral section is divided into two parts: “startup expenses and capitalization” and a “financial plan.” The “startup expenses and capitalization” portion aims to provide an estimated startup cost for your business, while the “financial plan” outlines your financial objectives and projects profit, loss, and cash flow over time. The groundwork for these sections has already been laid in your “startup expenses and capital” and “twelve-month profit and loss projection” spreadsheets. It’s essential to incorporate or hyperlink this data in your business plan, as it offers potential lenders and investors a glimpse into your business’s projected financial trajectory. To initiate this process, navigate to Google Drive and open your business plan in Google Docs. If you have a business plan from the “Begin Writing Your Business Plan” lesson, use that document, or if your plan exists in a different file format, simply upload and open it in Google Docs. Start by adding a heading for “financing information,” followed by subheadings for “startup expenses and capitalization” and your “startup expenses and capital” spreadsheet. Link the subheading to the spreadsheet, enable link sharing on the spreadsheet with view-only permission, and copy the link.
Next, proceed to your business plan document and paste the link into the URL field to successfully integrate your link. Follow this by adding a subheading for your “financial plan” and another for your “twelve-month profit and loss projection” spreadsheet. Similar to the previous steps, create a link to your spreadsheet. These additions and links in your business plan not only make your financing information readily accessible but also enable readers to thoroughly examine your financial estimates. As your business evolves and you develop more spreadsheet projections, remember to continually link these new documents in your business plan. Now it’s time for you to take action: Open your business plan document, insert a “Financing Information” heading, include “Startup Expenses and Capitalization” and “Financial Plan” subheadings, add subheadings for your spreadsheets, and create links to these spreadsheets. This will ensure your business plan is comprehensive and provides a clear financial outlook to interested parties.