Budgeting is finding the right balance between spending and scrimping for your business.
Your business may start with venture capital, crowd funding or old fashioned bootstrapping. But your startup needs a budget to be in business.
Marketing is a must. On no budget or a small budget, make it happen.
For the small business, look at how you can cut costs in certain departments or streamline operations. It’s not about making payroll, but turning a profit.
And how do you budget yourself as a business owner? You have to calculate your own salary, factor in expenses and keep retirement in mind.
If you get a hold of your budget, you can focus on getting better at making money. A modest, but successful company is better than a private jet and major debt.