We are introducing financial planning on the basis of IlexFS channel video. In this video, video maker assumes financial planning just like the planning of planting sweet fruit tree. When you buy the sweet fruit plant from market, you can not know all other works which are hidden and also without doing, you can not get sweet fruit. Same will happen on your business, you can start business but without financial planning, you can not know what are decisions, you have to take, what is capital structure, you have to make. There are many things in financial planning and video maker explained all these things wonderfully with simple example of plant and its planning up to its becoming of a true full of sweet fruit.
Budget surplus is just like water, without this water plant can not grow. Its means, all financial cost must be under budget and budget surplus will be helpful to grow your business. It also means that company has to make budget first before doing anything in financial planning.
2nd Thing - Water Tank = Emergency Fund