How to Make a Successful Business Budget
Cash flow is the gasoline in any small-business’s engine. And sure, we all know it’s important to manage your money-but some business owners believe that only means looking at the profit and loss statement once a month. While this financial strategy is better than having no strategy, it can lead to problems-and there’s a better way. The answer? A budget for your business. In this episode we sit down with Dave Ramsey, the CEO and founder of Ramsey Solutions. He talks about why having a budget for your business is so important. Then George Kamel chats with Ramsey Solutions Senior Executive Director of Finance Jeff Williams. Jeff lays out a step-by-step process you can use to start budgeting for your business.
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Пікірлер: 7
Just came across this video...thank you for sharing it. Answers most of my questions that I had about applying a budget to a business but I'll get the rest of those answers on the 17th! Talk to you then.
In construction - whats better/ worse? Missing the bigger jobs revenue or the debt from the equipment?
@Cha_Chink
6 ай бұрын
Yes the debt from the equipment would be a liability but if you have good paying contracts you can save a lot of money on labor depending on how you pay your guys but it’s easier for them and saves you time to move on other jobs.
I am 3000 of the 3.5 k views
👍🏻
First off have a separate bank account from your personal account and pay yourself!
@nathankring9922
2 ай бұрын
Paying yourself, if you are the sole member LLC, doesnt mean anything. It is a pass through and any profit or loss flows through to your personal return as a Schedule C. You will then pay income tax and self employment tax on that profit or loss.