When you are full of ideas for starting a new business, all you can see is what’s going to happen tomorrow. The thought of having their vision turned to reality often blinds new entrepreneurs to that all-important question: Does it all makes sense financially? While passion is key to turning vision into a functional business, prudent financial planning is critical to ensure that reality comes to fruition and continues to survive and thrive!
WHY FINANCIAL PLANNING IS IMPORTANT FOR BUSINESS OWNERS
Just as even the savviest of pilots can’t always fly blind all the time, so too is the case with business owners. Meticulous financial planning, for the short-term, in the intermediate period, and for the long-term horizon, is vital if a business is to succeed.