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Keep Up With Your Financials

Tallying your figures at year-end may be too late.

Opinions expressed by Entrepreneur contributors are their own.

Many small business owners make the mistake of preparing financial statements only at year-end when the IRS requires it. The consequence is reactive financial planning. If you want to be a proactive financial manager, generate monthly financial statements and use them to make the key financial decisions that affect the daily success of your business.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need

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