Archive for March, 2012

The 7 Reasons Business Owners Don’t Create a Financial Plan

Sunday, March 4th, 2012

I believe that smart business owners make a PLAN to be profitable. I also know that most business owners don’t take the time to make a PLAN to be profitable. I know that because I talk to business owners all the time who believe they can simply focus all their energy on their marketing and sales efforts and the money will come.

That’s true. Good marketing followed by great sales will bring in money.

However, the main purpose in setting up a business is to make a profit. Bringing in money is one aspect of running your business. The other aspect is making a profit. And that can’t be done without a plan.

Here are the 7 reasons why business owners don’t create financial plans:

1. You fear money or what you think money will do to you.
2. You won’t like what you see.
3. You don’t think it’s important.
4. You don’t think it’s necessary.
5. You don’t know how.
6. You’ve managed without one for so long, why start now?
7. If you ignore it long enough, you won’t need it.

Which one works for you? Your business should have been designed to bring in a profit. If you are profitable, congrats!

If you aren’t profitable or don’t know if you are profitable, start making a plan to be profitable.

It’s my goal to teach business owners the financial basics so that they can sustain their business through good and bad times. Every and any sized business needs to operate with a plan. I created Destination-Greatness.com with you in mind. This is a self-directed on line program that provides you everything you need to set up a profitable business. After all, what other kind of business is there?

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