Would you build a house without a preliminary plan?

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3. Incorrect budgeting


It is impossible to build a business without clear budget planning. After all, a company is the same house with many structures and engineering systems.

Many entrepreneurs have difficulties in drawing up and implementing a budget. There is no control in budgeting. As a result, financial resources are used ineffectively, and there is no stability.

For example , a company produces food additives: it builds a ecuador consumer email list quipment. But the problem is that business owners began to buy everything they might need. In theory, not in the near future. As a result, some of the purchased equipment is idle and will not be needed anytime soon at current turnover. And when the chance to buy a very valuable asset arose, there was suddenly no money for it.