KNOWLEDGE IS POWER

There’s an old truism: “Knowledge is power”.

There is no doubt that knowledge is power, but let’s rework those three words. How about: “Knowledge is peace of mind”?

Planning is the most powerful thing that you can do. Planning allows you to see the future. We’ve said it before, but it’s worth repeating: Can you have any more power than the ability to see the future?

Clearly, most entrepreneurs believe that developing a forecast of future financial events is somewhat akin to crystal ball gazing. Anytime one attempts to foresee future events, there is some guessing to be done. But if the process is dynamic (that is, it changes as conditions change), then the element of guessing will disappear—with the resultant forecast becoming the most powerful and useful tool in the arsenal of the entrepreneur.

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