A real annual plan has three characteristics: • It spells out realistic business goals and specific strategies designed to accomplish those goals. • It takes into account all the interconnected elements of a business, not just one or two. • It can be translated into hard numbers, as described above. An annual plan isn’t a plan unless you can use it to project an income statement, a cash flow statement, and an ending balance sheet. Ideally, you will be able to show month by month how those numbers will become real. If you have such a plan, you’ll know not only where you are headed but what must
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