Budget Planning – A Good Reason to Be in Denial

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!

Business Planning Budget

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.

_________________________________________________

 

subtotal:

current income:

difference: