Tip 2 for Your 2011 Business Plan: Use Financial Forecasting, Budgeting and Monitoring

Do you run your business with a close eye on your financial situation? You should. In our industry, revenues typically fluctuate from month to month. Since we may often have months with little income – holiday and vacation seasons are prime examples of such time periods – and others with a higher level of activity and revenue, it is absolutely essential to plan ahead to ensure financial stability. Today’s tip covers three very essential parts of business planning: forecasting, budgeting and monitoring. In addition, I’ll describe a couple of financial term you must keep a very close eye on: cash flow and balance sheet. Please click here to read Tuesday Tip: Start Planning by Using Financial Forecasting, Budgeting and Monitoring. Barb Barb Schwarz The Creator of Home Staging® CEO StagedHomes.com Founder/Chairwoman, The International Association of Home Staging Professionals