506 – Budgeting Fundamentals for Small Business

Learn the fundamentals of budgeting for small business. How to create an operating expense budget for your small business, with host Henry Lopez. Show Notes page: https://www.thehowofbusiness.com/506-budgeting-fundamentals-small-business/  Why should you create an operating budget, and how to create an annual budget that helps you maximize profitability. Henry shares some best practices and tips and the key steps to create a small business operating budget. Creating an annual budget is a crucial exercise for small business owners, as it provides a financial roadmap for the year ahead. Here are the key steps to follow: 9 Steps to Small Business Budgeting: 1 - Review Previous Year Financial Performance 2 - Define Your Business Goals – including Revenue and Profit 3 - Estimate Fixed Costs 4 - Estimate Variable Costs 5 - Plan for One-Time Expenses 6 - Calculate Working Capital 7 - Assemble the Budget 8 - Review and Adjust 9 - Monitor & Adjust Henry Lopez is the host of The How of Business podcast – helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business and entrepreneurs. Find the best podcast, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com  

Om Podcasten

The How of Business - how to start, run and grow a small business - is a weekly show for aspiring Entrepreneurs and existing Small Business Owners. If you are looking for actionable advice, tips and techniques on how to start (including launching or buying your first small business), run and grow your small business, this is the podcast for you! In each episode we either discuss a business topic, or interview an existing small business owner or business service provider. The How of Business is hosted by Henry Lopez who shares the knowledge and experience he has acquired over his corporate and entrepreneurial careers.