“Used correctly, a budget doesn't restrict you; it empowers you.” - Tere Stouffer

Most People Do Business Budgeting All Wrong:

Most new entrepreneurs struggle with budgeting…

Not because you aren’t making enough yet, but because you are trying to do household budgeting when a business budget is completely different!

Household budgeting is based on a consumption model of finance: we buy things to consume them (toilet paper, food, makeup, etc)

Business budgeting, when done right, is based on a cash-generation finance model: (every dollar spent must “buy back” more dollars into the business).

A household budget consists of compiling past data on usage to create a predictive equation of future spending.

This doesn’t work for businesses. A business needs a financial SYSTEM (not just a budget) that consists of:

- Income Planning (to even out cash flow)

- Statistic Analysis (to predict future internal number trends)

- Cost Analysis (to make sure expenses are bringing IN more money than they are costing you)

...only with those done can you properly create a business budget.

With that said, here is an example of me creating a budgeting for a $7-figure business the RIGHT way! 👊

Start your own business budget checklist:

Here is a quick checklist to get you started with your business budget. Remember imperfect action beats inaction, get started and keep tracking your expenses.