Part 2: Business Succession Planning: So then, where do we start?

Well, in the words of Stephen Covey (7 habits of highly effective people) , begin with the end in mind:

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Part 1: In small business, planning is the key to your financial independence.

Over the next couple of months, I am going to write a lot about the importance of succession planning.

Small businesses, especially those operating in regional locations across Central Queensland need to have clear succession plans in place in order to help them achieve financial independence.

With the tough economic climate in Central Queensland’s, the time to plan for your future is now, not later.

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Scouts honour… Be prepared this EOFY!

A lot of businesses in Gladstone are prepared, sure.. but just as many are not ready for the up-coming end of financial year.

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Financial Independence via the Financial Forecast

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I’ve written about business planning and how failing to plan is planning to fail. This week I want to write about a very important element of business planning… the Financial Forecast.

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The business plan as a roadmap for success

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You wouldn’t set out to drive from Gladstone to Melbourne without a plan of how to get there?   Would you?

So why is it that every day thousands of small business owners operate their businesses without any idea of where they are going or how they will get there.

The business plan is like a roadmap—or maybe more like a GPS in today’s world. If you want to reach the destination of financial independence, you have to plan the journey and use the tools at your disposal.

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