In the components of a business plan, the section which contains a detailed description of the company, the problem/opportunity, proposed solution to be offered, and your competitive advantage is "Financial Projections section"
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What is Financial Projections?</h3>
Financial predictions forecast your company's future revenues and expenses using existing and estimated financial data.
They frequently contain many scenarios so you may see how adjustments to one part of your finances (for example, increased sales or reduced operational expenses) may affect your profitability.
Financial predictions are an important tool for business planning for a variety of reasons.
- Financial predictions assist you in setting your beginning budget, determine when you may anticipate the business to be become profitable, or set benchmarks for meeting financial goals if you're starting a business.
- If you currently have a firm, making annual financial projections can assist you in setting goals and keep on target.
- Both startups and current firms will require financial estimates when seeking outside finance to convince investors and lenders of the business's development potential.
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Answer:
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. Financial managers typically: ... Help management make financial decisions.
Value- Pricing
- Value pricing is the strategies whose prices are fixed primarily according to the customers needs.
- Affordable price attracts more and more customers to come or buy.
- Prices mainly are fixed according to their customers feedback and their needs.
- It is also known as customers willingness to pay for the particular product.
- Two main types of value pricing are:
- Value added pricing
- Good value pricing
- Limited customers
- High charges- Affect your profit
- More loyal customers
- More need of your services
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