A great perk of creating a spending budget is now you will be able to factor in one-time purchases better than ever before.
Though some of these items may come up unexpectedly, like the purchase of the laptop to replace the one that crashed, other people can be budgeted for months in advance, like that company retreat you’ve been eyeing, to protect your organization from financial burden.
Phase five: Pull It All Together
The first four actions of this post detail the elements of the superior small business price range, so the last stage is simply pulling it all together. Get action by by using this handy checklist with specific examples so you can make your price range without any hassle:
Cash flow SOURCES:
Hourly Earnings
Product Income
Investment Income
Loans
Savings
Other
FIXED COSTS:
Rent/Mortgage
Utilities
Salaries
Internet
Government and bank fees
Cell phone
Website hosting
Accounting Services
Legal Services
Insurance
VARIABLE Expenditures:
Raw Materials
Contractor Wages
Commissions
Advertising
Other Marketing Costs
Transportation
Travel & events
Printing Services
ONE-TIME SPENDS:
Computer
Furniture
Software
Office Supplies
Gifts
Establishing a monthly business enterprise spending budget may seem like a hassle, but I bet it is something you’ve been thinking about for a long time. Take the leap! It’s an essential infrastructure project that gives you the ability to make conscientious financial decisions so your online business can stay on track and grow.
What else stands in your way of a balanced small business budget? Are there any hurdles we’ve missed that currently have you paralyzed in the process? If so, comment below with your questions, challenges or concerns.
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