Leading By The Numbers: Critical Numbers for a Competitive Business Plan (Part I)
One of the key components of a competitive business plan in today’s market is the inclusion of key reports. Three key ingredients that can strengthen any business plan are Financials, Projections and Market Research. For many business owner the idea of including even one of these sections is an overwhelming prospect and you may find yourself wondering, “What if I’m not a numbers person?” or “Can’t I just hire someone to do this?”
In today’s commerce, hard numbers provide valuable information about the health of your business and there’s just no getting around it. Not to worry, this doesn’t mean you should start hiring a team of quants that your business can’t afford. Start by thinking about the ins and outs of your business and you may discover you already have the data to calculate the numbers without hiring outside help. Even if you aren’t completely comfortable working with numbers, the goal is to learn how to measure and quantify your business and it’s not a long road if you start with the basics.
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