Budget


Sep

07

2019
3 Budgeting Tools for Your Small Business

3 Budgeting Tools for Your Small Business

The different acronyms and financial models in budgeting can intimidate some business owners. But it shouldn’t be that way. There are only three tools you need to be familiar with to understand budgeting. Budgeting can be intimidating. It is only daunting because they don’t understand it. Because of this, entrepreneurs spend less time on financial planning and more on their product and ideas. Not knowing...

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Jun

14

2019
The Art of Budgeting After Strategy

The Art of Budgeting After Strategy

Budgeting is oftentimes the first thing tackled in a business plan when in fact it should be the other way round. Budgeting should come after strategic and marketing planning. People often talk about creating a revision plan in an existing business. They want to make significant changes, remarket their products to customers, and radically transform its structure and operations. But when the process begins, the...

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Jun

10

2019
5 Recommendations for Building a Solid Budget

5 Recommendations for Building a Solid Budget

A budget is one of the most important documents in a business. Which is why it’s imperative you create one that can withstand changes in the environment. Set realistic budget expectations If you don’t plan to make changes in your business, don’t increase the numbers in your budget. Justify each expense in relation to its profitability and long-term versatility. So make plans and strategies to...

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Jun

08

2019
Budgeting for Investors

Budgeting for Investors

Budgeting is not only important for you and your company, it is important for investors. If somebody wants to invest in your business, they will mostly base their decision upon your budget. Through your budget investors they can determine your financial health, the viability of your business and its long-term potential. They look at how you’ve budgeted for future plans and whether or not you’ve...

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Apr

07

2019
Approaches taken by an interim executive: Zero Based Budgeting and More

Approaches taken by an interim executive: Zero Based Budgeting and More

Don talks about zero-based budgeting approach, engagement, and quantification as an interim executive Interim Executives don’t step into perfectly running companies. They enter when there’s trouble. There might be a sudden gap in leadership or the company is going through a transition. Their temporary and challenging position requires them to handle their jobs differently than they might in other situations. With over a decade of...

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Mar

21

2019
Don’t Miss Out on the Long-term Potential of a Budget

Don’t Miss Out on the Long-term Potential of a Budget

Budgeting is crucial in getting you past the first 5 years. If done well, your odds of surviving in the long-term goes up. Budgets are essential for both startups and mature businesses that have been operating for more than 5 years. But having one in a small business could be the key to success, considering their high failure rate. An alarming 82% of small businesses fail...

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Feb

01

2019
The 3 Don’ts of Securing a Source for Small Business Funding

The 3 Don’ts of Securing a Source for Small Business Funding

There are a ton of options of small business funding for entrepreneurs. But how does one secure one and which one to go for? We got all the answers from industry experts Growing companies face a lot of challenges when looking to secure capital. It can be that one thing that makes or breaks them. As newbies in the business world, young entrepreneurs and small...

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Jan

23

2019
5 Budgeting Tips

5 Budgeting Tips

The importance of budgeting cannot be overstressed. Having one, and a good one, can help your business grow and keep it in line with your strategy. Budgeting season is here and it’s never too early to start planning. If you incorporate these 5 budgeting tips used by successful companies you can rest assure that your business is on track to a great year ahead. Set...

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Jan

11

2019
The Importance of the Break Even Point in Startups

The Importance of the Break Even Point in Startups

One of the biggest challenges faced by startups is money. Where does it come from? And how much do I need? Both can be answered if you know when you will reach your break even point. The sooner you reach it, the stronger your chances of growing and attracting larger capital. For a startup business, there are only two places where money comes from: customers...

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Nov

27

2018
Why You Need to Use Electronic Accounting for Budgeting

Why You Need to Use Electronic Accounting for Budgeting

If you’ve been budgeting for a while now, you may have noticed ups and downs in prioritized expenses every month. Rarely do they stay constant nor are they predictable. The best way to track your cash flow is to use electronic accounting. That is keeping digital records of your financial transactions, and using accounting software to process the data. You can use an app, spreadsheets...

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