What is your advice for starting a business

The answer is called pro forma financial statements. You can also search for budgeting processes, because you do the same thing when you formulate the next year’s budget this year.
You make predictions about what the year will be like… what you will sell, who you will sell it for, how much you will spend on all sorts of things. That’s your pro forma part. Then, at the end of the year, you compile the actual numbers; analysis occurs in seeing variances between the predicted and the actual.
My point, thus far, is just that businesses of going concern make pro forma (“best guess”) statements — not just businesses that have yet to have any operational content to report.
Each item on your financial statements will require a different treatment. It will be mostly based upon assumptions, so be sure and explain your assumptions.
For instance, if you think you will sell between 5,000 and 50,000 units, and you choose 40,000 units for your gross profit (pro forma) # — state why you chose 40,000.
A reason might be that your operation will be suitably competitive to your competitor; the market can sustain number of units sold per period. Last year your competitor sold units. You expect to steal 50% of its market share; thus, = what you will sell = Y/2 + (whatever % of the market, , that your competitor was not able to get).
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