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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 offering.  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

Financial Planning Guides Provides Direction