Finance & Grow Your New Business. Angie Mohr

working in concert with your retirement goals. If you expect to make a $100,000 gain on the sale of your business to help fund your retirement, you need to plan the growth that will be required for that gain right from the beginning. Your exit strategy will be included as a part of your business plan and may change over time as the external environment and your business goals change.

      Chapter Summary

      • A successful business model is able to pay all the expenses of the business and a return to the investors, so planning for your own remuneration and profit is important.

      • Your business planning should start with your overall vision for the business, whom it ill serve, and how it will operate.

      • Your business plan is a living, breathing, ever-changing document that guides your business operations and growth adhering to its underlying principles.

      • The monthly management operating plan compares your actual operating results to your plans to make sure that you’re on track.