Financial Planning Guides Provide Direction
One of the best ways for you to accelerate your business success rate is
to invest in a good
Financial Planning Guide.  If your primary skills are
in product development, business planning or marketing, it is essential to
increase your Financial IQ with some business and financial planning
tools.  Don’t just leave all of the work to the bean counters.  A good CPA
and equity investment advisor are also critically important, but you must
be able to think in terms of business finance for every aspect of your small
business management and it is critical that you get a sound education in
financial planning principles.  You must know how to measure Profit and
Loss (P & L) and how to evaluate your Cost of Goods Sold (COGS) and
other primary functions of any business. This is where a good Financial
Planning Guide can quickly bring you up the learning curve and become
an essential business success factor.

As in all things, your business success will depend on a healthy balance
of supply and demand.  With a solid financial planning guide, you can
map costs for all inputs (your “supply chain”) and all aspects of taking the
product to market (optimizing your “value chain”).  You will be able to
quickly identify management and production efficiencies by having a very
clear idea of your controllable fixed costs and your more volatile variable
costs.  You will be able to create a roadmap for success by measuring
your business success rate of growth and know which of the financial
dials you can turn up or down depending on market acceptance of your

By all means, get the proper financial advisors on your mentoring team –
but do your homework as well with comprehensive financial planning tools.

Pamela Millar, CEO
                    Bridgemakers Consulting