Monday, February 22, 2010
PLAN FOR THE FUTURE: DON’T GET CAUGHT “OFF GUARD”
As the Jim Morrison of The Doors once said, “the future’s uncertain, and the end is always near.” While he may have been referring to his short and rather debaucheries life, he was right about one universal thing: the future is uncertain.
Now, is the end always near? I will be the first to admit that I am not an expert on Nostradamus studies, so I will let the religious and academic scholars try to answer that question. I do know though that uncertainty about the future is a common feeling for most small business owners.
In fact, as soon as an entrepreneur loses sight of this, they can get very complacent and easily get derailed. And, from a financial planning perspective, I believe it is critical for any company to develop a strategic plan for the future. This plan could include planning for additional funding, an acquisition, or if they are ambitious an IPO. Either way, a plan is needed for the “end game,” or as many call it an “exit strategy.”
While many CEOs have studied finance, or have financial backgrounds, it is critical to get the right financial talent on board to help develop these strategic plans. Most people would not try to re-wire their houses would they? Of course not…they bring in an electrician to handle with this complex and somewhat dangerous task.
The same could be said for using the right talent to handle financial planning. It is the future after all. And, if Mr. Jim Morrison is right, the future is uncertain. So, why not bring in the right experts to make the future clear, bright and within reach.