Why You Should do a Business Projection

Mar 11, 2019 by Roger Scherping

Some of you are wondering, Why should I do a business projection?

A business projection is simply a financial plan for your business.

I know a lot of you don’t even budget because you say, “My budget is going to be wrong anyway.”

You’re right. It is going to be wrong. But that doesn’t matter.

You still need to plan.

Dwight Eisenhower, Commander of the Allied Forces in WWII, once said, “In preparing for battle I have always found that plans are useless, but planning is indispensable.”

The real benefit of planning is not necessarily the final product. The real benefit is the fact that planning forces you to think carefully through all of your business decisions. It’s the opposite of “winging it.” In fact, lack of planning is the most common reason given for the failure of small businesses.

Just remember that Sir John Harvey once said, “Planning is an unnatural process; it is much more fun to do something. The nicest thing about not planning is that failure comes as a complete surprise, rather than being preceded by a period of worry and depression.”

Planning gets you started in the direction you want to go, and it helps you successfully adapt as circumstances change.

So, plan! At ProjectionSmart, we can help.

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