The Plan

As we venture into a new business or perhaps are running an existing business we must realise that there are principles that govern success. Insisting that our business run according to our inexperienced wants and desires will frustrate us and not work.

If we expect a certain income and take it irregardless of earnings we will fail because of lack of sufficient capital. If we take earnings when things look good and rob our businesses of ongoing capital that will not work either.

We must decide on an income that is reasonable and consistently take that, leaving enough for taxes and ongoing costs we will be wise.

In my industry we receive up-front commissions or payments for business written and on-going commission or fees to maintain that business. If we write a lot of new business we have an opportunity to earn good money and seeing a large amount of money in the bank can be so tempting.

This is where the plan, the business plan must kick in. There must be a plan for if we fail to plan we plan to fail. I have found that sticking to the plan will save me from much heartache for you do not know what is around the corner. The GFC has proven that.

Remember stick to the Plan, if you don't have one get one, quick.