Love ’em or hate ’em, small business budgets are a vital part of your success. Much like traffic signs, they’re put in place to guide you from risk, keep you on the right path, and bring you safely to your goals. So why do so many entrepreneurs ignore them?
Join me for a brief 76 seconds while I break down the budget barriers to find out why you need one, and what it should focus on. Because budgets aren’t just a good idea – they’re a necessity.
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I’m often shocked at how often business owners admit that they’re not using a budget. Yet, budgets are critical for your success. They’re a bit like traffic signs. They’re there to help you reach your destination, yet you ignore them at your own peril.
Here are two reasons why every business needs a budget. First of all, it helps you focus on profit, not just sales. And second, a budget helps you set up a strategy for your growth. It allows you to balance your expectations of income with how you’re going to spend that income.
If you’re not using a budget right now, I urge you to talk with an accountant or with your business coach.
So, my question for you is simple—do you have a budget and if you have a budget, are you using it?
Also, if you have a question you’d like me to answer on a future video, ask that below as well.
Thanks for watching. Now keep your eyes on the road.
Join the conversation: Do you have a business budget? If so, are you using it?
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