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Taking time to step back from the day-to-day operations
and focus on the future is critical to developing a roadmap of where you are
going (or might like to go) and the best track to get you there. Developing
ideas and plans through research and brainstorming sessions should be a priority but is
often times pushed aside for the firefighting needs of the day. An outsider can
focus – corral the business resources and focus them for a period of time; then back away to expand on the concepts and conduct research before returning for additional quality time and effort.
- Business Plans – Usually a low priority and easily put off;
using creative vision to see the future, not just what’s in front of you,
and starting with possibilities is the first step toward leapfrogging a
business forward
- Budgeting – Most of us will do the bare minimum to get by
with budgeting; you cannot accurately predict the future unless you use
your past experiences of what you thought would happen compared with what
actually ensued
- Financial Modeling – Whether for special projects, a theoretical
new line of business, a possible divestiture, a strategic or financial
partnership, or a large capital expenditure, well designed financial
models can highlight the effect of each component – any or all of which when combined can have a significant impact
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