Jun 21, 2021
In episode 364 of Financially Simple, Justin provides a quick guide to creating a budget for your business.
According to Small Business Genius, half of all small businesses don't have an official, written operating budget to record their expenses. Many times those business owners who begin maintaining a budget, start to see more profit because their business account is no longer a blank check for spending. In this episode, Justin goes over a four-step plan for creating and maintaining a budget for your small business.
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00:43 - Four Easy Steps to Creating a Small Business Budget
03:15 - Some Facts
06:08 - Have Separate Accounting Software
06:57 - Profit and Loss
09:12 - Adjust the Historical to Reflect the Future
11:32 - Program the Budgeting Tool
12:09 - Summary
13:53 - Wrap Up
Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.
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