David C Barnett Small Business and Deal Making M&A SMB cover image

David S 2023 Live Christmas Eve Special!

David C Barnett Small Business and Deal Making M&A SMB

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Planning and Forecasting for the Upcoming Year

In this chapter, the importance of planning and forecasting for the upcoming year is discussed. It emphasizes using last year's numbers as a starting point, adjusting for variables like weather or external events, and regularly comparing actual performance to the forecast. The chapter also highlights the need to set guardrails and recognize when significant changes are necessary to avoid investing more resources into a failing venture out of sunk cost fallacy.

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