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Create a one, three and five-year plan.
and reverse engineer the revenue, marketing and metrics needed to achieve these goals.
ensure you have access to cash.
Nishanian recommended setting up an SBA line of credit for access to cash.
Youll only pay interest on the amount you better borrow.
Nishanian recommended making your key performance indicators exact to the smallest measurement you’ve got the option to.
If your measurements are in large increments and you miss, the impact will be large.
Barnes recommended managing in 13-week periods and constantly updating this forecast.
If possible, update thecash flow forecastweekly, and daily, in a working copy.
Its highly recommended to also put together an annual budget and run budget to actual reports monthly.
What helped her in surviving her first year as a small-business owner was setting realistic expectations.
You will have challenging times, but power through them and focus on the longer term.
Dont spendtoo much timefocusing on the smaller issues and the details that arent going to move the needle.
Its more important for you to stay at a high level and do what you are best at.
Remember your well-being directly impacts the success of your business, Perkins said.
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