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MEETING OR BEATING YOUR TARGETS
No plan will ever never realistically be
work out exactly to profitable. But often a
How well is your
schedule. Remember little extra
business doing?
you are making professionalism or effort
assumptions of what can turn the situation It is important for every
might happen in the around by considering
business to judge the
future - you can only the follo-wing:
level of its success or
make a reasonable guess
see if you can cut
based on your failure at regular
your costs
knowledge, experi-ence intervals. Some busi-
test if you could
and current infor-mation.
increase your prices nesses will do this
However, some of your
see if you could monthly and others
assumptions may be
increase your level of quarterly. Monthly is
crucial to the prosperity
orders without a
of your business. When recommended for new
corresponding increase
looking at your plans business, 19 certainly for
in costs
you will have to know
check if your business the first 12 months.
which of your assump-
will gradually become The figures you require
tions are important to
profitable - so what you are contained in your
you, as any changes will
need is some finance to bookkeeping records and
affect your business in
support you in the should be transferred to
both profit terms and the
meanwhile. your profit and loss
flow of cash.
forecast, as well as onto
If your initial
the cashflow forecasts.
forecasts suggest the
In simple terms the
business will not make a
figures to be entered on
profit, don't despair. It
the profit and loss
may be the case that
forecast will come from
your business could
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