To create financial stability for your business, barbara Dartt, planning coach at Salisbury Management Services, says you must:
- Determine where you are in the business life cycle.
Uncover your core values.
Determine your guidelines for taking on new opportunities, like minimum working capital needs and minimum equity position.
It's also about controlling what is controllable and moving your accounting system beyond what is required for tax purposes. Finally, you need to be a student of your business. "This takes commitment, work and a project champion," Dartt says.