THE IMPORTANCE OF financial planning

The Entrepreneur Magazine ’s Calendar for February 2009:

Financial planning is a critical discipline that allows you to ensure the financial fitness of your business.

Implement the following:

1. Budget fastidiously

• Create annual budgets, but
• Review and adapt quarterly

2. Guard your cash flow

• Create detailed cash flow projections
• Cater for best and worst case scenarios

3. Keep your accounts up to date

• Ensure your monthly management accounts are available within 10 days of month end – every month

This Month I WILL

1. Create my personal annual budget

* ____________________________
* ____________________________

2. Complete my company/division annual budget

* ____________________________
* ____________________________

3. Create a detailed cash flow projection for 2009

* ____________________________
* ____________________________