Better Business Bureau of Southern Piedmont and Western North Carolina’s Post

Day 5 Door 5 - Forecasting Revenue You know how important cash is and that you have to build a cash flow forecast. Now you need to think about the incoming cash and the outgoing cash. For the incoming cash, you need to consider your projections on revenue including: - when you think your business will start generating revenue; - how much revenue will be generated a month; and - how long your customers will take to pay These questions are important because whilst you may recognise revenue when you invoice customers (in your profit and loss account), until you actually receive the funds, that revenue is not an entry in your cash flow. In addition, if you are registering for VAT, then you will receive some income at least some of which will need to be paid to HMRC at a later date. #SME #Startup #Cashflow #Revenue #Entrepreneur

OffDeal (YC W24) has just raised $4.7M in seed funding to offer small business owners a faster and cheaper way to sell their company. OffDeal is an AI-native investment bank for small businesses. Their AI technology automates most of the grunt work typically done by analysts at larger Wall Street banks, enabling their in-house M&A advisors to focus more on strategic client interactions, leading to faster deal closures and higher sale prices. OffDeal was born from personal experience. In 2019, co-founder Ori E., a former banker, tried to buy a local cooking oil collection business. He was shocked by how painful, clunky, and inefficient the SMB M&A process was, with both sellers and buyers receiving little guidance. Inspired to change this, Ori partnered with Alston L. to build OffDeal. Over 80% of small business deals occur without an advisor, resulting in lower sale prices, broken deals, and dragged-out cycles. Most owners lack access to the M&A advice they deserve. With OffDeal, small business owners can access Wall Street-level service at a fraction of the cost. OffDeal’s mission is to empower all business owners to realize the full value of their life’s work and to promote American entrepreneurship. Congrats to the team on the round! https://lnkd.in/gh2CjK2u