One of the toughest part of the business plan is financial forecastings* keeping up with much required cash flows. There’s always a requirement for the rainy checks in both personal & business planning. Financial projections per the business plan may or may not work out to the best of business’s interests. “The current pandemic is just one example of why organizations need a business continuity plan to protect their resources and the customer supply of products or services” (Reid, Nov 2020). Financial support via investors is one the key risk aspects of every business plan and moreover the business outgrows with the pumping og more cash flows & their efficient utilization. Just having a source of positive cash flows wont do everything as how the source has been operated for the operations of the business takes an eminent call overall.
Literacy among cash flows & their effective implementation has been one of the struggles with recent startups & hence to have better understanding of the financial position can only guide an entrepreneur a better futuristic projection. Without any money not a single operation can be performed and hence can stall the business and also throw in the idea in someone’s else’s pockets to reach faster, quicker & efficiently to the same consumer base thereby succumbing to the market competition. Having cash flows hence is considered an ideal requirement for every business. This also goes out to tell everyone who’s trying their luck in the market that if you have enough potential to play around, you can also have a great opportunity to be as a risktaker and innovate the business per your profits.
Talking about the venture, yes I am pretty serious into supporting the business model that have been planned over as part of the course objective in last 8 weeks or so. In last few years we have been tapping into the US demand market to supply the air filter products made from a cheap manufacturer (who can be us) from ASIA regions and implement the vertical integration business model theory.
REF
Reid, R Dan (Nov 2020), Be Ready, Quality Progress, Milwaukee Vol. 53, Iss. 11 : 48-51
Retrieved From : proquest.com/central/docview/2468685053/C669B8A1482E4385PQ/11 ?accountid=158986
