During a recent workshop, I was asked if independent contractors can really operate using a budget…if so, how do they budget? Yes, independent contractors can make a monthly budget even though they live the 1099 life. Here’s how. The concept of a monthly budget is a no-brainer for people who rake in a regular paycheck…Keep reading
The sales forecast is the backbone of your business plan. People measure a business and its growth by sales, and your sales forecast sets the standard for expenses, profits and growth. Usually, sales forecasts are based on past sales data, industry-wide comparisons, and current economic trends. It is easier to come up with a sales…Keep reading
How many units/service jobs do you need to do on a daily basis to breakeven? To begin to predict where you begin making a profit in your business, you need to know the Breakeven Point…that moment of sales and expenses when you can breath your first sigh of relief. Most businesses spend their first 3-5…Keep reading
Listed below are some everyday financial projection terms that I was requested to define in common terms during a recent business financial event. For more information on business financial planning be sure to join Small Business Thoughts for free and search the Library at http://www.smallbusinessthoughts.com. accounts payable Money owed to others for goods and services…Keep reading
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