According to research, 20% of small businesses fail in their first year, and they each have one thing in common – lack of proper planning.

1. A Plan for Future Growth

As a business owner, you may have lots of plans for your business. For its future success, you must have planned out various long-term goals.

2. Saving Time and Energy

Small business owners wear a lot of hats. If you are an entrepreneur, you may find yourself juggling between the different departments within your company.

3. Saving Money

Business owners who neglect the financial condition of their business often fail to notice where they are overspending.

4. Evaluating Market Trends

Financial service providers are equipped with some of the best tools, enabling them to research market trends more effectively.

5. Retirement Planning

Many business owners are wrapped up in the logic that they will later sell their business and fund their retirement.

6. Succession Planning 

Besides planning your retirement, you should also plan out what will happen to your business, or who will keep the company running, when you are no longer in charge

People who should listen to this show are entrepreneurs