Last month I shared with you that there are three basic—yet very powerful— steps in developing a great business plan. Let’s take a moment to review. In the last column, I introduced the SWOT analysis to use as a tool to evaluate past performance and the current state of affairs in your business. In step one of planning, you must determine not only your current condition, but also what you are starting with and where you are starting from. Once you have a firm grasp on your current “state of affairs,” step number two of creating a bullet proof business plan is to fully understand your financial needs so you can see and understand what success will look like.
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