The purpose of long-term financial planning on a business

[Trexxxy]

I couldn't agree more on this with you as I feel that any business that does not have a long-term financial plan it's not serious to succeed in business as a business is supposed to be a going concern without and expiring date so there should be no reason for a business not to have a long-term plan.

True, the whole purpose of a business is to ensure that it is long lasting all the while making profits. Businesses gets handed down by generations, if the original owners weren't visionaries, the businesses wouldn't get handed down.

 

[Sotherefore]

I think there are many traders who trade daily. In fact, some traders even trade in crypto every hour, so yes, I think they do monitor the prices every time. You need to do that if you plan to invest in coin because of the fact that cryptos are highly volatile as you stated.

If you're really thinking of investing in cryptocurrency the most important thing that you have to do is understand the type of coin you will be investing on if it is a good coin or not then you also have to know a perfect entry points to enter that is all.

 

[Ralphjoe]

True, the whole purpose of a business is to ensure that it is long lasting all the while making profits. Businesses gets handed down by generations, if the original owners weren't visionaries, the businesses wouldn't get handed down.

I think business is supposed to be a continuous process never meant to stop at any point in time because a business is supposed to be in legacy that someone that started is it supposed to pass down to his or her heir as a legacy.

 

[Lens]

The financial plans is what every business needs and it's help you guide the day to day running of the business. All your business development and innovations would be guarded by the plans. The business long term plans is a key and it's a must for every business.

 

[Ralphjoe]

The financial plans is what every business needs and it's help you guide the day to day running of the business. All your business development and innovations would be guarded by the plans. The business long term plans is a key and it's a must for every business.

The thing is that it's not impossible for a business to succeed without a financial plan but with financial plan the business is better situated to survive any form of financial left Downs that will come close to it so that is why financial planning should be the top priority of my business.

 

[YERUS]

A strategy for the potential financial development and expansion of a business is generated by long-term financial planning. These types of decisions have lengthy lead times and require a long-term outlook on how the plan will be executed. The plan makes certain predictions based on factors such as future economic prospects, interest and inflation rates, estimates of commodity prices and revenue, and evaluations of the market climate based on particular regulatory and tax structures. The aim of the plan is to set financial targets that result in the successful realization of long-term financial goals once achieved.

Do you know any results if a business does not have this? Please share your thoughts about this. Thank you

It is good to have a long-term financial plan.
It sets you ahead, makes you keep going in the face of unstable economies and market hurdles.
Once your long term financial goals are achieved, your business does not have to suffer.

 

[Shigobad2020]

Any business that doesn't have a long-term financial plan is always going to struggle. Having a long-term financial plan does not mean that the funds are readily available or accessible, but simply mean that you have a set of strategies in place on how you wish to generate funds in the long run.

Business in life must plan for the future because of the danger of some unforseen circumstances that might happen , this financial plan will be used to tackle any financial difficulties.

 

[HayKay]

Long term planning is very important not only in business but life in general; anyone ready for sustainability in business or has a vision that the business would be around for a long time, needs to see beyond now and also plan towards it. It isn't enough to have vision but working towards it matters

 

[Toyoabasi]

A strategy for the potential financial development and expansion of a business is generated by long-term financial planning. These types of decisions have lengthy lead times and require a long-term outlook on how the plan will be executed. The plan makes certain predictions based on factors such as future economic prospects, interest and inflation rates, estimates of commodity prices and revenue, and evaluations of the market climate based on particular regulatory and tax structures. The aim of the plan is to set financial targets that result in the successful realization of long-term financial goals once achieved.

Do you know any results if a business does not have this? Please share your thoughts about this. Thank you

Rightly written....
Long term plans for your finances will help your business stand whatsoever unforeseen economic situation in the future.
It makes you certain that your business won't suffer a failure in a long run.

 

[Kubiat-Abasi]

Having a financial plan is a necessity and a step in the right direction. In any business you should be able to use the foreshadowing skills and make plans toward emergencies to salvage unforseen events.

 

[Partisan]

Long-term financial planning is the key to succeeding in any business because failure and loses is inevitable and you need a plan to come back from those losses and that plan is a longtime financial goals which will help you

 

[skyliequiz]

Financial planning in business is the process of forecasting future financial results and determining how to effectively employ the company's financial resources in pursuit of the organization's short- and long-term goals.

 

[Tislad]

For a businessman to have long term financial plan with means he has money to finance his business, which is a good thing for the business all he needs to focus more on is his management.

 

[nimzy]

The purpose of long term business planning is in other to meet the future occurrences without the effect of affecting the future with compromise. that is it's done in other to cover or solve a certain problems over a certain period of time before strategizing another planning.

 

[Solutionav]

A strategy for the potential financial development and expansion of a business is generated by long-term financial planning. These types of decisions have lengthy lead times and require a long-term outlook on how the plan will be executed. The plan makes certain predictions based on factors such as future economic prospects, interest and inflation rates, estimates of commodity prices and revenue, and evaluations of the market climate based on particular regulatory and tax structures. The aim of the plan is to set financial targets that result in the successful realization of long-term financial goals once achieved.

Do you know any results if a business does not have this? Please share your thoughts about this. Thank you

It is very important to have a long term business plan because it will help you to be focus and also find possible way to actualize the goal.

 

[Sotherefore]

This may not actually be necessary if you have the money that is needed to start up the business immediately ,sometimes this could be as a result of not having the immediate money that is necessary to start up your business.

 

[tyrim88]

Long-term financial plans in business, when it comes to financial terms in business you need to consider that any business that doesn't come with a long-term plan do not last longer, so having a long-time plans in business is a strategies of sustaining that business.

Long term financial planning is very important and essential in the life of any business,because there are instances where in future there might be a prospect for the company to pursue and it requires finance to push it through,if they do not plan amd forcast through financial discipline,it would be difficult for them.

 

[Ghost]

Businesses need to have a long term financial plan, as this can serve as a guide, or goal for the business. Also it helps the business plan ahead based on different market factors, unpredictable trends and all.

Definitely true. I don't believe an entrepreneur would want to go into business with the intent of not lasting long. That's unthinkable.

 

[Trexxxy]

Definitely true. I don't believe an entrepreneur would want to go into business with the intent of not lasting long. That's unthinkable.

Is it really unthinkable? I think there are people out there who don't take this business thing very serious and they just think they can make a few bucks and sell the business off.

 

[Skysaint]

Long term financial plan for me is more like the goals and great height you intend to attain as a business owner in the future. I think it's really quite necessary for every business to have this planned out for greater earnings and achievements