Here are some basic and important steps that you should ponder while making a financial plan for your business.
1. Establish and confirmed your business/company goals/objectives, vision.
2. Gather all necessary data, industry key financial indicators. Summarize all the cost to create a budget.
3. Analyze and Evaluate your Financial Status i.e. break even, projected financial statements and ratios. Don't forget to identify risks associate with your budget.
4.Develop a Plan, it should be clear and having short & long-term goals both.
5. Implement it.
6. After, keep monitoring it, make changes where necessary.
Hope these will be helpful for business owners.
