BizSugar.com › Management › How to Keep Your Home Business Afloat

If you’re looking at a new business, make up a business plan, include your goals and financial projections. YOU need to know more than anyone where you are headed. Your business plan doesn’t have to be drawn up by a professional business planner, you can do it yourself. Write down the hard costs of getting the business started and maintained, including costs of licenses, equipment, inventory etc. Don’t forget to include how much income you will need to be bringing in, or have saved up until you start to show a profit. Always have a Plan-B in place. Lack of planning will have your business sinking in no time at all.