Feb 13, 2023
In this episode, I discuss something very near and dear to my heart... the pro forma. You've probably heard of pro forma before. In fact, you may have used them in your business. But are you aware of the many different pro forma documents and their unique benefits?
Using pro forma documents can help you understand what the future
holds for your business. I'll discuss this and explain the
different types of pro forma and how they can be applied to your
business in this episode of the Financially Simple
podcast.
This week on The Financially Simple
Podcast:
● (1:48) What is Pro Forma?
● (2:35) Pro Forma calculation
● (5:03) Budget documents
● (5:24) Company income statements
● (6:24) Earnings projections
● (10:53) Secure funding
● (11:51) Inspire confidence in prospective buyers
● (13:38) Assessing M&A and risk analysis
Our Favorite Quotes:
"If
you use correct assumptions in creating your pro forma, you can
demonstrate viable growth, making your business attractive to
investors." —
Justin Goodbread
"By changing a few key factors, you can identify risks in your planning well before they have the chance to be realized." — Justin Goodbread
Get the Financially Simple Pro Forma Template:
Financially
Simple Pro Forma
About The Financially Simple Podcast
If you are looking for a podcast that speaks directly to the
challenges and puzzles of running a business, you’ve come to the
right place. The Financially Simple podcast was built for you. With
over 400 episodes and counting, our host Justin Goodbread covers a
broad range of topics, from starting a small business, to prepping
it for sale, to growing your personal wealth. Justin’s combination
of analytical skills, tough love, and a healthy dose of experience
delivers practical ideas that will benefit business builders at
every stage of their business journey.
If you have questions, or comments for Justin, submit those
at:
https://financiallysimple.com/ask-justin/
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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).
This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.