The Importance Of A Budget
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Budgeting is an integral part of society. In todays hurry up and
get it done society; every day we are trying to budget our time,
our meals, our kids time and our money. Unfortunately for many,
most of this process is done mentally and never put on paper.
Remember, just as families budget time and money, your business
must also develop a financial plan. This type of budget is simply a
formal written summary of your goals and intentions in terms of
Budgeting requires you to look ahead and formalize future goals.
By establishing a budget, you can set goals for achieving a certain
level of income and monitor your expenses. Many home based and
small-business owners have remarked that their increase in profit
margins did not occur until they had a written revenue goal and a
method with which to monitor expenses.
Other business owners need to know their sales levels in terms
of dollars and how hard they need to work to make the budget work.
Sound familiar, goals and budgeting is very much tied together. The
closer you come to the goals you have set for yourself, the closer
you will come to achieving the budget amount you need. Youll know
you are on top of your business when you can tell your accountant
that you need to sell 3.25 items per day in order to make your
budget work and meet your financial goals.
Copyright 2003 DeFiore Enterprises
About the AuthorCopyright DeFiore Enterprises 2002
Interested in having your own successful, home based creative
real estate investing business? Chuck and Sue have been helping
folks start successful home based businesses for over 19 years, and
we can help you too! To see how, visit http://www.homebusinesssolutions.com
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Article Published/Sorted/Amended on Scopulus 2006-06-06 21:57:02 in Business Articles