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Karren Brady is a formidable woman with a relentless determination to succeed. Recently, I attended a masterclass with Baroness Brady where she shared her story of success.
Whilst listening to Karren speak, it quickly become apparent that business comes first, above all, at any cost, and always has - she only had 3 days maternity leave, which I’m sure one day she will regret.
“I work hard. I didn’t have a holiday for 13 years whilst running Birmingham City Football Club” – Karren Brady
Karren is an outlier – most of us want business success but we also need that balance, to enjoy the life we want to live. Your business is important and as entrepreneurs you are in a unique position as you can control your income. That is why cashflow planning is such an important part of financial planning. “It’s the road map to give you the direction and focus.” says Chartered Financial Planner Bhavika Desai. Cashflow planning helps you work out your numbers – what you need to sell the business for (the lump sum you will need in retirement) or the income you need to maintain/increase your lifestyle.
Once you know your numbers and you have a plan… you can then focus on what’s important to you.