Bussiness Planning

Business plans bring success

Why write a business plan? 

Imagine departing for an unknown vacation destination without the use of a road map. This association is similar to a business person who is attempting to either start or operate an existing business without any idea of how to develop the business.

What is a business plan? 

A business plan is a written narrative with financial and marketing projections. The plan describes the goals of a new or existing business and how the goals will be accomplished within a certain period of time.

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Is your business successful?


Take a moment to evaluate your past business operations and its current status as you attempt to reach your next level of business objectives. For example, have you accomplished your original goals and objectives when you first started your business? If your goals and objectives have not been reached, you need to take some time to evaluate your business. As business owners, the majority of our time is spent putting out fires and we are often too busy to analyze where our business is progressing.

Remember, for every one hundred business enterprises, only twenty-five percent who survive the first year are able to celebrate their tenth business anniversary.

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Importance of maintaining adequate cash flows:

America’s number one small business challenge which causes many failures is maintaining an adequate cash flow. Unfortunately, managing cash flow is a struggle for many business entrepreneurs. Owners need to manage forecasting, collecting, disbursing, investing, and planning for a business to operate smoothly. Most businesses start having difficulties when the cash inflows and cash outflows do not keep pace with each other leaving the business short of cash and unable to pay its operating obligations. The following reminders are to assist businesses maintain appropriate cash flows: