Bookkeeping tips to help you build a solid financial foundation for your business.
Did you know that your business needs a budget? Yes, just like you need a budget for your personal finances you need one for your business. Managing money is essential if you want to succeed in your business. Part of being successful at this is having a monthly budget.
Yes, I know you're a creative and this is overwhelming. But stay with me. I'll make this quick and painless.
The goal of a budget is to make the most of the resources you have in order to reach your business goals (and probably some personal ones too!). A budget is simply telling your money where to go instead of wondering where it went.
Here are three steps to start your business budget:
Now set up your budget like this:
Remember when you first start your business you will not be able to create a perfect budget. Budgets develop over time. Make an educated guess at the beginning and adjust it every month until you have something that works for you.