Do you engage in any business planning?

Bruce_C49

I hope so. I am not talking about a large and involved budget exercise but, answering a few basic questions:
1) Has my business volume increased? Stayed flat? Declined? Why ?
2) Did you have any new initiatives for the upcoming year? If so, how did they fare?
3) Is your business spinning any cash?

The last question is essential. There is a difference between an accounting profit and a cash profit. Do you know the difference?

Business planning should be both a look backward and a look forward. I hope your business does business planning!