We are excited to be launching a new business, Muslim Solutions Network. We are launching a new mobile app that helps Muslims stay accountable, connected and supporting on practising spirtuality. With any launch, having a financial plan is one of the keys to success, and we would like to involve students in creating one for our new venture.

This will involve several different steps for the students, including:

• Learning about our business strategy from various employees to become familiar with our goals, mission, and products.
• Creating forecasts using Excel (or another financial software) for sales in the first year of operation as well as an income projection (conservative and aggressive).
• Working with our team to develop an expense budget.
• Conducting a break-even analysis timeline using financial projections.
• Reporting on projected assets and liabilities.
• Including visual comparisons such as graphs and charts to show the differences between the conservative and aggressive income projection.

By the end of the project, students should complete the following list of activities (this is basically a retelling of the steps above):

• Completed a sales forecast and an income projection for the first year of operations.
• Conducted a break-even analysis using the sales forecast and expense budget.
• Analyzed projected assets and liabilities our company will have in the first year of operations.
• Included extra visuals in the report to help us understand the differences between the conservative and aggressive income projections.

Final deliverables:

• A final report including a sales forecast, cashflows, income projection, expense budget, break-even point, assets, liabilities, as well as any calculations and assumptions used.
• A 30-minute presentation explaining all research and findings from the report.

Students will connect directly with us for mentorship throughout the project. We will be able to provide answers to questions such as:

• What does our company do?
• Where will we be located? Who is our target audience?
• How much money do we have to start? How much are we seeking from investors?
• What type of expenses are we anticipating?