12 Jan 2018
It’s early January of 2018 and I’m already WAY ahead of my competition.
In the way of financial forecasting, I mean.
That’s right. I’ve already done what only about two percent of closely held businesses do at any time of the year: make a plan.
According to Dave Duryee, author of the 60 Minute CFO, and my business advisor for the past several years, most business leaders/entrepreneurs, founders, CFOs, whatever you want to call them, don’t plan for the following reasons:
1. Lack of knowledge on how to do it (after all, what type of entrepreneur wants to admit she doesn’t know how to do something?!)
2. Don’t have time.
3. Fear of being held accountable.
4. Uncertainty about the future.
With Dave’s help, I’ve established new strategic goals for my company that will be achievable in 2018 and we’ve created a realistic financial plan that me and my leadership team will review monthly and make adjustments as necessary throughout the year in an effort to stay on track.
So if you’re not in this two percent, what’s holding you back? Don’t be satisfied with being in the other 98 percent. Venture into the unchartered, sometimes choppy waters of financial planning and soon you’ll find much smoother sailing, headed in the right direction.