How Do I Financially Plan to Start My Business?

In this episode, John and Scott dive deep into the crucial topic of financial planning for small business owners and entrepreneurs. They break down the essential steps of calculating startup costs, understanding monthly cash burn, and building a realistic pro forma to project revenue, expenses, and profitability. Drawing from personal stories and decades of experience, they highlight the importance of conservative planning, preparing for unexpected expenses, and the value of having sufficient operating capital. The hosts also discuss common pitfalls, such as underestimating costs and being overly optimistic, and share practical advice on budgeting for both business and personal needs. Whether you're just starting out or looking to strengthen your business foundation, this episode offers actionable insights to help you plan for long-term success.

The Turtlesmith Podcast is aimed at people who want to take their step into entrepreneurship, and start a small business. We get into everything from Business strategies, actionable advice, taxes, and all the things it takes to build a profitable business. In our weekly episodes, we break down a step by step plan across 3 phases. Our motto is "Get Rich Slow". Tune in with Scott Hess, an expert tax accountant and business consultant, and John Barton, serial entrepreneur and business man, as we tackle the mystery and break down the walls of information to help you reach your dreams.