You worked hard to create your budget for 2018. Do you use it as a tool to help guide your business during the year? It’s your view about how your business was going to do this year. If everything goes according to plan, you will reach your goal.
But business isn’t stagnant. It doesn’t stay the same month after month. Your customers face similar challenges, and as their businesses change, yours will too. So, if you are going to actively manage your business, actively managing your budget should be part of it.
Here are four approaches to managing your budget:
There is no right way to manage your budget. The issue is really one of how you use it. Is it a benchmark that you measure your business against, or is it a tool that you actively use to manage your business and plan for the year? Either way, if you need help to make it a more useful tool to help grow your business, we’re happy to talk about it.
Financial reports contain the most important reading that a business owner looks at on a regular basis. And yet, for
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