Thursday, 8 April 2010

TODAY with TONY DOWN

Today is day one of the business planning seminars that I am leading this month.

17 delegates attended the course. During the day we emphasised the importance of planning - a business doesn't want to rely on luck alone. We thought of the quote from the famous golfer Arnold Palmer who said: "It's a funny thing, the more I practice, the luckier I get...", and we applied this quote to business planning.

Throughout the day we considered; Systems, resources, quality, drawings/survival budget, different costs (direct, indirect, fixed, capital, etc) different methods of costing, and finally the delegates learnt how to construct a forecast monthly profit and loss account.

Tomorrow we will be looking at the all important cash flow projection and finally how to monitor our actual performance by looking at bookkeeping.

Tony Down

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