Cadence Yuna May 31, 2021 Spreadsheet
First – History/Budget – what kind of a history do you have from your last convention? Did you fill out forms that showed all the results of your meeting? You started with a contract that specified sleeping rooms and scheduled functions, but did you update those numbers at the conclusion of your convention? This is important! You really do need to know what happened last year including your exact sleeping room pick-up, registration numbers with total income generated, specific meeting expenses and the number of attendees that attended each function. Without these numbers you are just guessing.
If you wanted to make this spreadsheet into template, you would need to take two more steps. The first step would involve modifying the spreadsheet to display only the data that remains the same. If you are constantly changing certain cells, you would leave these cells formatted but blank. The last step involves saving this spreadsheet as a template. Once this is done, you would always have access to a clean spreadsheet that is formatted the way you want and ready for your modifications. Microsoft has hundreds of free templates available. You can also download templates that are already loaded in your version of Excel. They are typically located under the File/New or Office Button/New option. When downloading these business and personal templates, be sure to monitor the version of Office that the template applies to. They have templates available for all of the versions of the Office Suites.
Angel Investors are typically much better investors for a long-term business plan that Venture Capitalists, although they do not come usually with the incredible network to help you succeed. Venture Capitalists are more interested in themselves and making money on their investment then what you get out of it or the future of the business with you in it. An angel investor is interested in you, the future of the business and the possibility of making a whole lot of money on their investment. Please consider all this when presenting your business plan to an Angel Investor.
Unfortunately an internal rate of return is time dependent so the amount you can withdraw depends on when you take it. Suffice to say, the only way to calculate the amount you can take e.g. halfway through the life of the fund, is by trial and error. If you are evaluating a number of investment opportunities, that can be a very time consuming process. Therefore Microsoft have built the Goal Seek function to aid your spreadsheet development. Since Excel 2007, it has been available from the Data ribbon. In earlier versions of Excel, it was present from the Tools menu. It gets straight to the point. It asks you which value you would like to fix (in this case the investor‘s return), what you would like to fix it to, and asks what you would like to change. All fields can accept cell references. It will then calculate the input through trial and error.
Lester‘s temporary office at the Factory was glassed on all sides, and surrounded by the sights, sounds, searing temperatures, and smells of the smelting and pouring areas. Originally, the cubbyhole had been used for storing coal and coke until the plant converted to gas-fired furnaces in the mid-‘50s. Over the next three decades a succession of plant superintendents used the room to boink their secretaries, which necessitated its windows being painted a squalid olive drab. During 10 years of performing this chore every six months, Lester had scraped two panes clear, so now he could gaze into the murky, smoky, smelly pit outside as he waited for the grinding computer and clackety printer to spit out a stream of spreadsheets.
Second – Planning your Budget – is this easy or are you going to start over from scratch? If you kept good records and have accurate figures, then you have a great start for you next meeting. It is easy to modify last year‘s information and make changes for this year. That will be necessary for a variety of reasons. You will need it to tell your hotel contact what you want and you will also need it to prepare this year‘s budget. Third – Budgeting Spreadsheet for Meetings – take the easy way out. Use a spreadsheet that will make your job easy. There are excel spreadsheets that can do it for you. Do not waste your time trying to design something that already exists and is proven to save you effort and stress.