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Today’s video is called, Why Not Having a Financial and Business Plan is Ruining your Life? If you’re like most business owners, there’s chances are you’re not 100% satisfied with what your business is currently doing, and that’s absolutely fine. It’s perfectly normal. That dissatisfaction at your current state of the business is what will drive you forward to go and achieve really good things.
But the reason why not having a financial and business plan is ruining your life is because you understand where you are, and you know what your dissatisfaction is, and you also understand, or have a rough idea, of where you want to be. But without a plan in place, you’ve got no idea how to get there.
The reason these plans are so important… Let’s look at business plan, for example. Well, the business plan will be an outline of the activities that you need to conduct to actually build the business that you want to be in. When you’re conducting these activities, the chances are there’ll be costs involved in a lot of them. You’ll have to recruit people. You’ll probably have to invest in particular bits of software or equipment. To do that, what you have to going to have to understand is how you’re going to fund that investment, how long you’ll need to fund it for and how long it will take to give you a return so you can actually do it right.
That’s why a financial plan is so important, as well as the business plan. The business plan helps you understand the activities you need to undertake, but the financial plan also helps you understand how you’re going to fund those activities and the kind of return you’re going to get back from making that investment.
Like I said earlier, if you don’t have a financial plan or a business plan, but you know that you’re not happy with what you’ve got today and you know roughly where you’re going to be, then all that’s going to happen is you just can end up with a load of frustration and resentment building up because you’re not moving in the direction you want to move in, even though you’re working as hard as you’ve ever worked. If you want to find out more about how financial and business plans work, then book in a free game plan session. I’ll put a link at the bottom of this video, and you can have a meeting with us to discuss the next steps involved in creating one and building your dream business.