The financial guru's I work with talk about the denial factor of startups and companies in their first 5 years of growth.
After long thought, I've concluded that we almost have to be in denial the first 5 years, or so, in business. If we had any idea how much time or cost it would take to build a living wage in our business, we may never have started our companies in the first place!
Denial, therefore, is a good thing for those worthy companies that pass that hurdle.
IN THIS ECONOMY - CHANGING DIRECTION
Many businesses are changing direction, offerings, services lately. If you've not re-evaluated your income and cost projections lately, here's a very generalized, basic form to help plan your business expenses. I suggest copying and editing it into an excel spreadsheet to make it easier to visualize and calculate. Add any items specific to your business to track those over time.
When you know what costs to cover, you'll know what you need to earn. . . and how much profit margin you need. If you're not meeting those goals, let us help you - that's exactly what we do!
Print out this form (it's not yet interactive) so you can review your status each quarter. Having actual information is the key to succeed!
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| Company name | |||||
| Date | |||||
| item | estim./mo. | actual | pay date | ||
| office space | |||||
| telephone | |||||
| IT, computers, etc. | |||||
| utilities | |||||
| auto | |||||
| education | |||||
| dues & subscriptions | |||||
| memberships, unions | |||||
| bus. Insurance | |||||
| leasing equipment | |||||
| bank charges | |||||
| loan paybacks | |||||
| moving expenses | |||||
| furniture, office supplies | |||||
| postage, shipping | |||||
| repairs: equipmt, etc. | |||||
| marketing | |||||
| consultations, plans | |||||
| campaign developmt. | |||||
| printing | |||||
| design | |||||
| copywriting | |||||
| web development | |||||
| social media outreach | |||||
| SEO | |||||
| biz cards, ltrhd, etc. | |||||
| sales materials | |||||
| promotions | |||||
| travel & entertnmt | |||||
| web updates, maint. | |||||
| personnel: list below | |||||
| sales staff | |||||
| admin staff | |||||
| accounting staff | |||||
| for products: | |||||
| list supplies for mfg. | |||||
| equipment for mfg | |||||
| leasing | |||||
| equpmt. maint, repairs | |||||
| depreciation | |||||
| special licenses | |||||
| build out, construction | |||||
| safety eqpmt. | |||||
| for services: | |||||
| list providers, i.e. | |||||
| bookkeepers | |||||
| legal counsel | |||||
| marketing consulting | |||||
| financial advising | |||||
| tax projections, qtrly.
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subtotal: current income: difference: |
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