1. There's a huge difference between cash and profit. You can be profitable but still run out of cash and in essence have no business. So concentrate on the cash flow in your planning and not only profitability. Remember you don't pay your bills with your profit.
2. Limit the priorities in you plan. More than 5 means you don't have priorities
3. A plan without the detail is a waste of time
4. Whats more important to you. The planning or the business plan. The former I hope. Don't lose site of that.
5. Get a grip and understand your expenses. Don't go forecasting high profits without understanding where every penny needs to go first
6. Know how you will actually make sales and how to make money in doing so.
7. Just do it.
Remi Okeshola
Managing Director
www.rbssconsulting.com
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