Financial planning for business owners is often two-sided: personal financial planning and planning for the business.
Business owners have access to financial tools that non-business owners may not have. While this can be an advantage it can also be overwhelming.
A financial plan can help ensure that the decisions you make are aligned with your financial goals. The struggle business owners often have with managing money, is trying to save for the future, while needing to spend money today. A financial plan allows you to achieve your financial goals, as it looks at where you are today and where you want to go, personally and for your business.
Why do you need a Financial Plan?
For a business owner, personal and business finances are connected. Therefore, both sides should be addressed: Personal and Business.
What does a Financial Plan for a Business include?
There are 2 main areas your business financial plan should address: Growth and Preservation.
What does a Personal Financial Plan include?
There are 2 main areas your personal financial plan should address: Accumulation and Protection.
What's the Financial Planning Process?