7. Financial Planning and Control

It may be both thrilling and overwhelming to launch a small business. It’s tempting to focus the majority of your time and energy on creating your product or service, selecting the best employees, and attracting clients. However, it’s crucial to set aside some time to attend to the business’s financial stability. Like how airlines advise you to put on your own oxygen mask before helping others: If you suddenly find yourself in a financial problem, you can’t satisfy your customers’ expectations or provide your employees the freedom they deserve.