It’s easy to go wrong when mapping out financials for a new venture. Here’s how to avoid some typical potholes.

Figuring out the financial details of a new venture can seem a mix of aspiration (How much I’d like to make. . .) and folly (I need borrow how much?). But writing down numbers on paper and as accurately as possible is important. It can provide a map to show where you are trying to go and what it will take to get there. It can also reassure investors, employees and yourself that you thought things through, did your research and have a realistic view of what your business needs.

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