<aside> <img src="/icons/info-alternate_blue.svg" alt="/icons/info-alternate_blue.svg" width="40px" /> This page is for entrepreneurs who are currently using or who would like to use TERN’s Financial Planning tool to create a business budget and cash flow forecast.

<aside> <img src="/icons/cursor-click_blue.svg" alt="/icons/cursor-click_blue.svg" width="40px" /> If you don’t already have access to TERN’s Financial Planning tool, you can find the link to it here ↙️

https://docs.google.com/spreadsheets/d/1kS_5c-mq6kuqBYlqtymdkOqHWR0dAPaGOK_okerLq_I/edit?usp=sharing

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Jump to a section in this page:

<aside> <img src="/icons/cursor-click_yellow.svg" alt="/icons/cursor-click_yellow.svg" width="40px" /> If you don’t already have access to TERN’s Financial Planning tool, you can find the link to it here ↙️

https://docs.google.com/spreadsheets/d/1kS_5c-mq6kuqBYlqtymdkOqHWR0dAPaGOK_okerLq_I/edit?usp=sharing

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Introduction to TERN’s Financial Planning Tool

<aside> <img src="/icons/preview_blue.svg" alt="/icons/preview_blue.svg" width="40px" />

Recording: My Financial Plan and Intro to the Financial Planning tool

A workshop hosted by TERN on how to approach financial planning and use the financial planning tool. Link to the workshop also here.

https://youtu.be/bCkT04w9dao

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Tab 1: My Personal Budget

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Recording: Financial Planning Tool: My Personal Budget tab

Link to the recording is below and here

https://youtu.be/lR5TfphQEhY?si=R6DM5wOBbl7R_kad

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Tab 2: My Startup/Project Budget

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Recording: Financial Planning Tool: My Startup/Project Budget tab

Link to the recording is below and here

https://youtu.be/VHD2IpvEHYk?si=Tg4TxgAK-MvpYQxg

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Your Startup Budget Made Simple

Planning your startup budget is a key first step to set yourself up for success. Don’t worry—this guide will help you break it down step by step.

What Are Your Startup Costs?

Your startup costs are everything you need to spend to get your business off the ground. These fall into two types:

• One-off costs: Things you only pay for once, like buying equipment or setting up a website.
• Recurring costs: Ongoing monthly expenses, like rent or subscriptions.

Tips to Keep in Mind

• Only include what’s absolutely necessary for your business—focus on what helps you get started.
• Don’t worry if your numbers aren’t perfect. This is just the first version, and you can adjust it as you go.

Part 1: One-off Costs

These are one-time expenses incurred when starting a business.

1. Category:
   • Select a category for each item from the dropdown menu in Column C.
   • Categories can be updated if needed.
2. Item: Enter the name of the item or service (e.g., laptop, license).
3. Where to Buy: If available, provide a web link to your supplier where the item can be purchased.
4. Number of Items Needed: Enter the quantity of each item or service required.
5. Price per Item: Input the cost per unit of the item.
6. Sub-Total: The total cost for each item will calculate automatically—no need to edit.

Great work—your one-off costs are done!

Part 2: Recurring Costs

These are ongoing expenses required to operate your business.

1. Number of Months: Specify how many months you anticipate incurring this cost.
2. Category:
   • Select a category for each recurring cost from the dropdown menu in Column C.
   • Categories can be updated as needed.
3. Item: Describe the recurring product or service (e.g., software subscription, rent).
4. Where to Buy: If relevant, provide a web link to your supplier for the recurring service.
5. Cost per Month: Enter the monthly cost of the item or service.
6. Sub-Total: The total cost over the period will calculate automatically—no need to edit

Amazing—you’ve mapped out your recurring costs!

Tab 3: Pricing