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By Barbara R at November 06 2019 07:19:00

Now, in addition, when you know the average number of transactions per customer and you know your average dollar sale per transaction, you can also project how many customers you would need over those 10 years as well. This would tell you everything about what your business would need to do to give you the salary you want. So, wouldn't it be nice to see what a plan like this would look like? Could you do it? It might not be as tough as you might think.

Everyone has prepared a business plan. Well, should that read, everyone should have prepared a business plan? My thinking is that these tend only to be prepared when they are needed, rather than as a useful business tool for all senior management. My top five ingredients are: 1. Understand what a business plan is; 2. Understand what you intend to use it for; 3. Identify and implement the critical steps to achieving a successful business plan; 4. Understand what needs to be included in the plan; 5. Be aware of gaps or weaknesses in your plan.

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