7. Financial plan - a business can operate without budgets, but it is clearly good business practice to include it. With budgets, you will be more likely to achieve your business objectives, you will make more-reasoned decisions and you will have better control of your cash flow.

For any period, a cash flow statement would include: - The cash and credit sales (or accounts receivable) expected to be received during period. - The anticipated cash payments (for example, expenses for purchases, salaries, utility charges, taxes, office expenses etc.) - A description of other incoming and outgoing cash, with a calculation of overall cash balance.

This will assess how much money is on hand to meet your financial obligations - what cash has been received and what has been paid out. Knowledge of this cash flow cycle will help you predict when you will receive funds and when you will be required to make a payment.

8. Measuring and evaluation - you wrote your business plan and set goals with intent of achieving them. So now break them down into measurable pieces and monitor results regularly. A plan that cannot be measured is almost always destined for failure. Celebrate your wins and recharge yourself to accomplish your next goal.

Decide beforehand what constitutes a real serious loss and what loss will be acceptable.

If you find your goals are unrealistic and unattainable, adjust them, but realize that it takes hard work to achieve them, so don't give up easily.

Conclusion: Now that you have a business plan, make it a part of you by knowing and understanding it clearly. Build upon it continuously and refer to it often, so you remain on track to building a profitable business.

Resources

Small business association - http://www.sba.gov/starting/indexbusplans.html www.soyouwanna.com/site/syws/bizplan/bizplan.html

Download a free business plan template: http://www.business-planware.com/freepln7.zip

Sample business plans http://www.mplans.com/spm

Online business planner http://www.planware.org/strategicplanner.htm

lip-service. Display hubris. The smoke and mirrors are often effective, though

temporarily so. Eventually, as song says, truth is found out. "I never found anyone to

fulfill my needs." Translation: The heroes never came through. True heroes are rare. True heroes exist because of a concept that few contestants

in The Confidence Game apply. Spot key word below. "I decided long ago, never to walk in anyone's shadow.

If I fail, if I succeed, at least I did as I believe.

No matter what they take from me, they can't take away my [*integrity*]."

(My adaptation.) Yes, folks, word is *integrity.* The original lyrics used word "dignity." Not

as important as integrity, in my book. Integrity and dignity don't necessarily go

hand in hand. Integrity means telling truth, even when you've failed. Many do

not see dignity in doing this, and prefer to go more cowardly route of covering

up. The world is in desperate need of heroes. Heroes who work diligently and with

integrity. For higher good, good of all, not just for their own personal gain,

not for their egos. Do you walk talk with integrity? Do you follow-through on your promises? Do

you work for good of all? Do you realize that we must cooperate together from

our smallest societal unit, family, on up to our companies, organizations, towns,

states, countries, and world? We are all connected. You are one unique link in great multi-faceted chain of

humanity. The Confidence Game is just that, a game. Stop playing games and attend to real

lives. We can start by walking our talk with integrity. By making conscientious

efforts on behalf of higher good - good of all. Song: "The Greatest Love of All," lyrics, Whitney Houston.

============================= Hershey Wier, MBA, is a Career & Self-Development Specialist specializing in career

and life transitions. Visit http://www.HersheyWier.com