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Funding a business
How Can Lack of Budgeting Be My Greatest Mistake as an Entrepreneur?
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[QUOTE="blessingc, post: 241350, member: 73446"] [JUSTIFY][FONT=Times New Roman][SIZE=18px]A business budgeting can also be written as a business plan and it is a fundamental document that any startup business needs to have in place prior to beginning operations. As an entrepreneur, you are concerned with every aspect of your business and need to have clear goals in mind for your company if you are to stay on track. It is very much important to write out a business plan before starting up. It is a road map, a guideline to what goals you wish to achieve over a short and long term of your business. Moreover, it serves as a business card for introducing the business to others: banks investors, institutions, public bodies or any other agent involved, when it comes time to seek cooperation or financial support of any kind.[/SIZE][/FONT] [SIZE=18px][FONT=Times New Roman][/FONT][/SIZE] [FONT=Times New Roman][SIZE=18px]Lack of a business plan will leave the management without any means to check out the theories on how to operate the business. In essence, a business plan will help a company to test different methods in reaching the best standards and policies. It is necessary for cash to flow in business you need to add it to your business plan. While profitability means you’ll make more money than you spend, cash flow is the cash running in and out of your business over a given time. [/SIZE][/FONT][/JUSTIFY] [/QUOTE]
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How Can Lack of Budgeting Be My Greatest Mistake as an Entrepreneur?
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