- Subject index
Business Planning and Market Strategy offers students, entrepreneurs, and executives penetrating insights into developing business plans and market strategies that bolster the odds of succeeding in today's highly competitive marketplace. Rather than reduce the planning process to mechanistic, step-by-step instructions, which promote “thinking inside the box”, author E.K. Valentin provides practical planning guidelines that encourage creative strategic problem solving. Drawing on both his business experience and the business literature, he explains not only what entrepreneurs and executives should look at when pondering plans and strategies, but also what they should look for. The book's unique applied perspective, sets Business Planning '; Market Strategy apart from conventional “how” planning guides.
Chapter 4: Getting a Handle on Costs and Financial Prospects
Getting a Handle on Costs and Financial Prospects
Dollars do better if they are accompanied by sense.
Implementing a market strategy and a business model costs money. Equipment and facilities must be bought or leased. Employees and utilities must be paid. Various raw materials, components, or goods for resale, also, may have to be purchased. All such expenditures will have to be identified and estimated sooner or later. The best time to start is now.
Getting an early start on estimating expenditures is advisable for two reasons. First, collecting cost data and refining cost estimates may take some time. Fortunately, other planning tasks can be completed in parallel. Second, expenditure estimates are needed to conduct preliminary financial viability ...