How to branch into entrepreneurial planning. The CPA Journal Online Search Software Personal Help June 1994 How to branch into entrepreneurial planning.
Many new businesses fail because of lack of planning.
Although most entrepreneurs have definite ideas on how to establish their business, very few bother to write their plans down. This is unfortunate because laying down plans on paper forces business people to take a closer look at potential problems and to develop strategies for success. A good business plan includes a sales forecast which would serve as the entrepreneur's basis for budgeting operating expenses and for conducting a break-even analysis. The plan should also have provisions for projecting income statements, performing cash-flow analysis, measuring the progress of the business at regular intervals, and revising all financial plans and goals in light of new information and developments. Additionally, the plan must also provide for the enterpreneurs' compliance with professional standards.