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Your Business Roadmap: Do you have a plan in place?
Become enlightened and establish your North Star
A budget is the first step in actively managing the financial health of a company and establishing reasonable goals for the budget period. The first budget exercise is often the most enlightening and difficult. It is a worthwhile, but time-consuming undertaking. Determining the most basic inputs (revenues) and outputs (expenses) can shed considerable light on the operations and help management assess where money should and should not be spent.