Taking the Pulse of Your Business
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beginning of a new year is a time when many of us make resolutions, some
resolutions are intended to improve aspects of our personal life and some are
professional life-based resolutions to achieve certain goals.
Among the personal and professional resolutions you may be making,
consider a resolution to improve the health of your business.
wellness is just like personal wellness, when your body, mind and spirit work
together to maintain complete health; likewise, business wellness happens when
all elements of your business including income, receivables, cash flow, debt and
taxes are working together to keep your business at optimum health so you can
sustain growth and profitability. And,
just as the best way to maintain personal health and wellness is to exercise,
eat well and take time to relax, there are keys to planning for and maintaining
business wellness. Two important
planning tools to maintaining business wellness are a financial
snapshot and a business roadmap.
first step toward business wellness is creating a complete and accurate view of
your businessí financial position; knowing the financial health of your
business right now allows you to
begin the process of planning for its future.
A financial snapshot includes your sales, expenses, debt, leases,
insurance, taxes, etc. Itís
important you know the core costs of your business, where every dollar is coming
in from and where itís going. The
snapshot is the initial step to know where your business is financially, at this
the numbers that determine your financial snapshot, you can then create a cash
flow model for today and into the future; this is your business roadmap, your
financial plan. Your business roadmap enables you to project and plan for how
your business should perform in future weeks, months and years.
It enables you to plan to buy new equipment, hire staff, restructure
debt, apply for capital or expand your location.
The business roadmap is vitally important to the success of your
financial snapshot and business roadmap are the key tools you need to be
knowledgeable and informed about the financial health of your business, where it
is today and where you want it to be in the future. These tools enable you to
meet your goals confidently and with peace of mind about the stability and
success of your business. Hereís
to business wellness in í06!
About the Author
Zwang is a principal of Wellness Capital Management, providing cash flow and
financial strategies to businesses in the wellness industry.
Monte has been a consultant for more than
25 years, teaching entrepreneurs and company leaders in health care, real
estate, food and beverage, day spa, resorts and hotels, and retail
industries the strategies of cash flow management.
For more information visit:
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Article Published/Sorted/Amended on Scopulus 2006-05-29 23:14:41 in Business Articles