In our second installment in the Series, “Planning for 2021,” we are tackling a subject that most people avoid or just don’t put the time into: budgeting.
Budgeting can be a time-consuming exercise and at times tedious, however, to run a good business, it is a necessity.
Budgeting creates a critical road map for your business of the financial expectations from revenue to expenditures. Even if you do an abbreviated version of a budget, it is far better than nothing.
A budget will force you to be thoughtful about how to be fiscally responsible to your business and ultimately will turn into more profits.
So, take a look at this week’s video, work on creating a budget, and continue planning for 2021.
Have a great week.