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The Need for Financial Model in Your Business?
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[QUOTE="Jasz, post: 256905, member: 61772"] In a world of ever-increasing competition, you need to have a business plan. The business plan will describe the goals and objectives that you have set out for your business. It also describes how these goals are going to be achieved. The model will help you understand the relationship between all the inputs into your process and how they affect the output or customer value. This helps you to make informed decisions regarding pricing, resources, etc., as well as identifying any opportunities or threats that may be present in your industry or market at any given time. The financial model is a tool for you to analyze your business and decide on the best way to grow and make money in the future. It helps you understand what it will cost to run your business and how much profit or loss you can expect. A good financial model helps you make informed decisions about how much capital you need to invest in your business, what kind of growth you should aim for, how much debt or equity you should take on, and what level of risk management is appropriate. [/QUOTE]
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The Need for Financial Model in Your Business?
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