The excitement has passed, the business plan looking as good as it’s likely to be, and the reality is dawning that even with the wished-for amount of investment, there will still be a niggling feeling that the plan could do with a little more work. Specifically, the part about profitability.

Addressing this hidden reality is something that all businesses must sooner or later face: When will the idea outlined in the business plan be profitable?

This five-step checklist is a tried-and-tested tool for helping to determine when – and if – a business idea is profitable: