A simple analysis can help keep your business’s key initiatives focused on your highest return area.
You have set the budget, agreed on initiatives and even have a long term plan. But how can you validate your company is on the right track?
A successful business plan is built on accurate data, but few numbers are so important—and so difficult to get right—as projected revenue. Growing revenue powers income growth which is what fuels future business expansion.
Complicating things further, “revenue” is a word that represents many moving parts. How do you keep track of them all? How do you make your projection as accurate as it can be?
Developing your financial plan from your strategic vision is a critical step in moving toward your dream.
Financial plans can be as rudimentary or as complex as you desire, but no one gets too far without some form of plan. A sound financial plan is vital for any size of business – from small startups to large corporations. It’s like a compelling novel, telling the story about your company, where you have been and where you expect to go.
Time out - Planning for growth may be an offline activity.
It is hard enough to keep your customers satisfied, the plant running efficiently and your suppliers on schedule. On top of all that, how can you profitably grow the business? Here is one method to kick-start the process.
Information demands on accounting and finance departments have grown exponentially over the past decade. It is no longer good enough to close the books a few weeks after month-end. Today, the critical work in finance and accounting is done after the financial statements are prepared. An inability to keep up with these new demands can put professionals out of work and companies out of business.
