The Importance Of A Budget

Written by Sue and Chuck DeFiore


Budgeting is an integral part of society. In today’s 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 dollars.

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.

The Almighty Buck

Written by Sue and Chuck DeFiore


The almighty buck can actually be detrimental to your business. Think about it, if all you think about is how much you can make, are you really focusing onrepparttar other aspects of running a business. For example quality control, safety of your product, etc. If money is your only motivating factor, what corners are you cutting to makerepparttar 104953 Almighty Buck.

If your focus is only onrepparttar 104954 Almighty Buck are you missing other opportunities, (to make more money), becauserepparttar 104955 only thing you have on your mind is how much you can make.

Withrepparttar 104956 Almighty Buck as your only motivating factor you are destined to run into problems with your business. The corners you cut,repparttar 104957 opportunities you miss,repparttar 104958 people you disappoint, are going to be your downfall.

We see and hear aboutrepparttar 104959 Almighty Buck more and more every day. We get emails that tout “Get Rich Quick”, “Make thousands working only 2 hours a weeks”, “Make Money Selling ____(put in a product name) from home”.

While, yes, we all go into business to make money, that cannot be your only motivating factor. If you are blinded or sucked into these schemes I can pretty much guarantee you, you will get nothing out of it. The only person who will make any money isrepparttar 104960 person selling it, and usually for only a short period of time. Then, they too, need to findrepparttar 104961 next “great opportunity”. These type of offers play off of a terrible traitrepparttar 104962 majority of us in this culture have, “greed”. Remember, if it sounds to good to be true it usually is.

So, you ask, if I am not going into business to make money, why am I. Well, not to be evasive but only you can answer that. Also, I am NOT saying that you should not want to make money. We go into business to provide ourselves with a roof over our heads,repparttar 104963 ability to cloth ourselves, and our families, feed ourselves, and help ourselves buyrepparttar 104964 things we need to keep going. So yes, money is important to us. However, it is notrepparttar 104965 be all and end all. The successful business owner realizes that how he runs his business, and treats his customers is paramount to staying successful.

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