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When it comes to long-term business success, preparation is the name of the game. And one key outcome from that preparation is a solid financial plan. A financial plan is an integral component of the overall business plan. It helps determine if the founding business idea is sustainable, and then it keeps you on track to financial health as you execute your idea. Its also a critical tool when asking investors to consider funding your business as it serves as a roadmap for your organizations future financial success, laying out important information like business assumptions, benchmarks, and worst- and-best-case scenarios. Creating a financial plan consists of four steps: First, create a strategic plan. This step involves outlining what you want your company to accomplish and the logistics of making it happen. Use this opportunity to anticipate the expenses youll incur to docHub your goals like new talent, software, equipment and other resources. Next, cr
