Posts Tagged ‘budget’

3 Business Startup Essentials

If you’ve ever started a business or been involved in a business startup, you know the excitement it can produce. That excitement is a good thing as it helps energize those involved and promotes enthusiasm that is critical to the early life of a business. On the other hand, that same excitement can cloud peoples’ thinking and cause critical mistakes. In order to remove that risk and still keep the positives, there are some steps or business startup essentials that will help immensely.

Recognize a Reality

As much as we may like to think we do, we really have quite limited ability to visualize how our Read the rest of this entry »

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Budget, Spending Plan or Rolling Forecast?

In essence a budget is an estimate of expected income and expenditures over a specific period of time. The level of detail varies from company to company. Budgets may be created for a month, year, or even several years. Let’s face it though, when attempting to budget several years out the reality is very suspect, especially with how fast things change now. Also, I’m amazed at how often a lot of time may be devoted to preparing a budget, only to find it is never really used.

Another problem with budgets is that they can sometimes be unrealistic for several reasons. One, it could be just the Read the rest of this entry »

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