Budgeting Essentials

One reason small businesses fail is that they don’t have enough money to get themselves through the start up period.  You need to properly anticipate how much money you are going to need to get your business off the ground. Learn more in this week’s blog.

 Many software companies are moving their software to the “cloud”.  They use convenience as a big part of their sales pitch.  But is what you give up in security worth the “convenience” of having your financial information in the cloud?  Learn more in this week’s blog.

Most people think of budgeting as an end of the year activity.  But the best way to create a budget is to collect your budget information as you are going through the year.  Learn more in this week’s blog.

Box office hits make money. You may think you are making money, too.  At least that is what your income statement says.  That is good if you have included everything you should have included in the income statement.  But... have you done that?  You can know for sure how your business is doing when you have a well prepared budget that you compare to your income statement.  Learn more in this week’s blog.

Your business is no different than your personal life. Unexpected things come up that you need to pay for quickly. The Boy Scouts have a motto: Be Prepared. That applies to business and life, not just Boy Scouts. Learn more in this week’s blog.

One cost savings area that small businesses miss is borrowing money and paying interest on their equipment purchases.  While it may seem convenient to borrow the money, there is a cost you have to consider.  This is where you can put more money into your pocket.   Learn more in this week’s blog.

Planning your Business cash flow so it stays positive may seem to be something that you can’t do. But with a well prepared budget, you can avoid many cash flow issues before they happen. 

Failing to plan properly is another financial reason entrepreneurial businesses fail.  This sounds like a non-financial reason, but failing to plan properly has big financial consequences.  If you don’t take the time to develop a well prepared budget, you haven’t properly planned the finances of your business. Learn more in this week’s blog.

One reason small business fail is that they don’t have enough money to get themselves through the start up period.  You need to properly anticipate how much money you are going to need to get your business off the ground. Learn more in this week’s blog.

Lack of cash is a common reason that small businesses fail.  Being able to predict your cash balances helps you manage your businesses finances.   Learn more in this week’s blog.

While having an OK budget is better than not having one at all, there are a number of benefits you get from taking the time to create a detailed budget for your business.   Learn more in this week’s blog.

There is a difference between a budget that you prepared out of obligation versus a budget that you use to produce business pivot points.  Learn 5 ways your budget creates pivot points in your business in today’s blog. 

You may be tempted to create a quick budget or simply skip creating a budget at all.  You may think you are saving time, but you are giving up more than you are saving.  Learn more in this week’s blog.

A good Cash Flow system does more than just take money in and send money out. You need to have a purpose behind what you do. Learn more in this week’s blog.

If you don’t do your books regularly and don’t have a well prepared budget to remind you of your upcoming expenses, you don’t really know how much cash you have available to spend.  Not knowing can have a negative effect both on your profitability and your cash flow.  Learn more in this week’s blog.

You may not think of a budget as a money saving tool. Many people even think of it as a chore or something that your accountant does. But there are a number of ways that a budget can help you save money.  Learn more in this week’s blog.

When you are running an entrepreneurial business, you want to take advantage of every tool that will help your business.  A budget is one of those tools that you want to make sure you use.    Learn more in this week’s blog.

Many people begin the New Year with resolutions for changes that they want to make for the coming year.  Unfortunately, many of those resolutions fail, in part because there is no implementation plan that goes along with the resolution.  Learn more in this week’s blog.

A budget not only gives you an annual plan for your business, it also helps your vision for your business. Learn more in this week’s blog.

Your entrepreneurial business depends upon the cash it generates. But what can you do to keep cash flowing in your business?  Learn more in this week’s blog.