By Carl Kinker
The Controllership Group, Inc.
Business planning and forecasting your cash flows for the year is always important but for some businesses it may be crucial for 2009. A business plan doesn’t have to be complicated to start but will need to become more sophisticated and detailed as your company grows. The importance of any plan is that you are attempting to be proactive instead of reactive to the business environment that your company operates within.
Where should you start? Start with a budget, set aside time when you will not be interrupted in order to focus on the task at hand. Be realistic this may take you several “appointments” on your calendar but do make it a priority. During the planning process it is important to separate your personal budget from the business budget. In most small companies they are intricately tied but plan them separately and then see if your business can support your personal budget. You may be surprised at the impact your personal lifestyle is having on your business health. Part of your objective with the business budget is to determine what is available for you the owner and what should be retained by the business in order for it to grow.
