Would you believe business people spend more time planning a vacation than on their business?
Take this quick survey. When you went on your last vacation did you plan a route? Did you have a GPS or a map? Did you service your car, checking the oil and filling up the gas tank? Did you make reservations and other travel plans? Did you budget your trip?
Now compare these answers to your business. Do you have a business plan? A business plan is the map for planning your future. Without it, anything you do is okay for there is neither plan nor accountability to keep you on course. Your dashboard in your car tells you when to fill up your tank, check your oil or service your engine. The dashboard in your business is your budget. Do you have one? How do you know what your cash flow requirements are? Do you have too much or too little inventory? Are the expenses being managed successfully?
A business plan (okay, map) and a budget (okay, dashboard) are two of the most basic fundamentals of any business. Don’t the dollars from the business pay for the vacation?
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