Why Startups Need Financial Advice?
Startups are the buzz of the day. Every moment scores of new entrepreneurs, mostly young with innovative ideas join the world of business with dreams to grow big. Start-ups could be in all forms & sizes but the core factor remains same, innovation & scalability.
In the real world of business, however, lot of dreams die young. The reason being lack of exposure to financial planning which remains the back bone of all business successes apart from the robustness & acceptability of the product or service.
A successful enterprise requires the following :
- Sound Business Plan: The potential of the business idea needs to be gauged along with ideal scale. Once fixed the same needs to be documented as Business Plan.
- Cost Estimation :Once the scale is determined all related costs of the product including launch expenses need to be penned down for determination of finance need.
- Cash-flow projection: Once the business plan & cost estimation is complete cash-flow projection reflects the financial feasibility of the product.
- Feasibility study of business: Investors including bankers & venture capitalists look at the feasibility of the product in view of the real market scenario. Only when convinced finance is provided.
- Obtain funding: Once the business is found to be feasible cost funding opportunity needs to be determined to arrive at the right structure with optimum yield.
- Develop an elevator pitch: An elevator pitch is a short summary of your business and its value proposition to customer regarding his expectation by engaging with your business.
- Fund Control: Tight control on your finance is required to avoid overspending. A robust accounting system depending on the scale of your business helps the process.
- Tax Planning: Tax-planning is key to your increasing capital base & growing legally, dragging a bunch of happy investors with you.
- Statutory Compliance : The acts of the state are becoming tougher & one needs to take care of the compliances so that inspite of your best intentions you do not fall behind.
- Attracting & Retaining Customer : One needs to be strategic & flexible with constant endeavours for creative upgradation so that the most difficult task of retaining customers is attained.
- Keep an eye on cash flow : The cash-flow is an indicator of your business health. If challenges are faced in meeting business needs, then it is a clear sign of business issues which requires immediate attention & solution so that you remain on success course. .
Some of the key financial indicators are:
- Inventory turnover.
- Debtors turnover.
- Creditors turnover.
- EBIT (Gross Profit before Income tax).
- EBIT as a percentage of sales.
- EBIT as a percentage of investment.
Thus to be a successful entrepreneur one needs to take care of huge gamut of activities & not all entrepreneurs are expected to be master of all such activities.
Why Choose Hassi?
Hassi Consultants, who with their tons of experience, come in handy at a very affordable cost to provide support to you in respect of all possible financial requirements of a startup so that you can concentrate on expanding your business leaving the headaches of starting a startup & back-office support to Hassi. We can act as partners in your growth of your self as well as your happy & satisfied business family.
- Low cost packages.
- Consultancy at home or office of the client for free in Kolkata(till our covered area, extra charges may apply otherwise depending on the distance from the last covered location near the required client destination).
- Periodic updates and reports.
- Telephonic Assistance whenever required.
- Facility for video consultancy via Skype.
- Facility to pay via Cash during first hour of consultancy at client's location. (The entire sum of the package opted for by the client must be paid in full before the commencement of the consultancy).
- 12/6 customer service. (From 8am to 8pm, Monday till Saturday).
- For customised plans please contact us on our contact details.
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|UNDERSTANDING & DETERMINING DERIVABLES||Yes||Yes||Yes||Yes||Yes|
|FINANCIAL & FAMILY DATA ASSIMILATION||Yes||Yes||Yes||Yes||Yes|
|FINANCIAL DATA VETTING||Yes||Yes||Yes||Yes||Yes|
|CURRENT CASH FLOW PREPARATION||Yes||Yes||Yes||Yes|
|FINANCIAL RISK ANALYSIS||Yes||Yes||Yes||Yes|
|FINANCIAL GOAL SETTING||Yes||Yes||Yes||Yes|
|FINANCIAL RISK MITIGATION ADVISORY||Yes||Yes||Yes||Yes||Yes|
|DETAILED FINANCIAL RISK MITIGATION PLAN||Yes||Yes||Yes|
|INVESTMENT & INSURANCE ADVISORY||Yes||Yes|
|STRUCTURING & RESTRUCTURING OF DEBT PLAN||Yes|
|CASH FLOW PLAN||Yes||Yes||Yes||Yes|
|MONITORING PLAN ON MONTHLY BASIS||Yes||Yes|
|TAX PLANNING AND ADVISORY||Yes|
|LEGAL CONSULTANCY IF DESIRED||Optional, Extra Cost||Optional, Extra Cost|
|SERVICE HOURS PER WEEK||1 . 50||1||1||1||1|
|ACCOUNTING SERVICE VIA ASSOCIATE FIRM(OPTIONAL,EXTRA COST)||Yes||Yes|
|DEBT SYNDICATION VIA ASSOCIATE FIRM(OPTIONAL,EXTRA COST)||Yes||Yes|
|INTERNAL CONTROL MANUAL||Yes|