When many small business owners open their doors for the first time, they really have no idea what they're operations will look like six months down the road. This could be a potentially fatal mistake. Creating a plan that takes some of the uncertainty out of the future, can help businesses better prepare themselves for what's waiting them months down the line. Below are four umbrella categories under which most forms of prospective financial analysis fall.

Operating budget

By communicating short- and medium-term goals across an organization, all members of a business will have an idea of the growth that is expected in the upcoming months. An operating budget takes into account all expected expenses for the upcoming year, and also includes assumptions for economic conditions, new revenue streams and growth in new business. After all these considerations, business managers will know how much capital they have to invest back into the company.

Deliverable forecast

Planning for the future will help businesses prepare for the present. By constructing a set of projected financial statements, businesses will have an idea of what to expect for the year, which will allow them to plan for revenues and expenses. These plans aren't set in concrete; as the year goes on, business managers can look at their financial forecasts and make the necessary changes to their budget. With these plans in place, the sales team will be able to discuss a businesses plan with investors and potential customers.

Cash forecast

All businesses start off with expenses they need to take care of right off the bat, and many of these expenses will be fixed throughout the life of a business. In a cash forecast, companies must be sure they can account for all of their future expenses by reviewing past records to see how much they typically spend on certain products and services. Taking the time to look over past expenses – a process that can be made easier with budgeting tools – may also enable a company to identify spending inefficiencies.

Strategic plan

Every prepared business owner has a long-term business plan and a clear idea for the direction of his or her company. After developing this plan, businesses will be able to see where their money is tied up, and where they may experience surpluses. A strong and realistic strategic plan will also allow business owners to prepare for any potential changes their operations will have to make. With the strategic plan in place, every member of the business will know the expectations for the upcoming year.