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HOW TO PLAN A BUSINESS FROM SCRATCH

Every great business started with a drive and a passion. Sure. However, your business will not grow with drive and passion alone.

You NEED a plan.

Starting a business without a well thought-out plan increases your chances of failure tremendously. Everyone loves the idea of being an entrepreneur and running their own business, but they HATE the tedium and frustration of planning and financial reporting and tracking. All the while knowing that these elements are critical to success.

BRIXX MAKES FINANCIAL PLANNING ALMOST BEARABLE

Our guest today is the product manager of Brixx, Robin Booth.  Brixx is a financial reporting and tracking platform specifically designed from small business. They help make financial planning easily accessible for people who aren’t accountants, and also provide finance professionals with a great tool in their arsenal for planning.

Listen as we discuss important things to consider when planning a business from scratch, the difference between forecasting and planning as well as their importance, and most importantly, why you need THREE business plans. Yes, THREE! So many great insights from this one so you sure don’t want to miss it!

 

IN THIS EPISODE, YOU’LL LEARN ABOUT:

  • Making Financial Reports More Fun and Interesting
  • Importance of Financial Planning
  • Tips to Grow a Business
  • Things to Consider When Building a Business from Scratch
  • Difference Between Forecasting and Planning
  • Tips on Forecasting
  • The Importance of Knowing Your Numbers
  • Things To Do For Small Business Owners to Prepare for 2019
  • Using Online Platforms to Help Your Business
  • Overview of Brixx

Quotes:

“If you don’t invest for growth, you are not going to grow.”

“Having a idea of your finances is a good place to start.”

“At the end of the day, the most important thing is to have cash in your bank so you can pay salaries or pay yourself.”

“Planning is the action of looking at your business and thinking about the elements that composed that business and how they work financially.”

“Forecasting is a bit more of an extrapolation of existing trends and planning.”

“The most important thing that you get (from forecasting) is a really holistic understanding of your own business.”

“There’s nothing wrong with changing your plans at all. It’s part of growing as a business.”

“Get on top of your finances.”

“You need to know what your cost and margins are before you set your price.”

“Make more than one plan – one way you do badly, one way you do daily average and one way you do really well.”

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