Small Business Budgeting Simplified: How to Create a Budget for Your Small Business
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- เผยแพร่เมื่อ 25 ก.ค. 2024
- Subscribe: bit.ly/2HJlq46
You can’t manage a small business without a budget.
So today, I’m going to simplify small business budgeting and help you get started. By the end of this episode, I promise you that you will have a clear understanding of where to start with your budget and how to get started.
As a licensed CPA and founder of multiple companies, I am going to show you how we create budgets for businesses we own and for our clients.
Outline:
Intro: (0:00)
Risks of Not Budgeting: (1:28)
What is Small Business Budgeting: (3:33)
Benefits of Small Business Budgets: (4:08)
How to Create a Budget for Small Businesses: (6:54)
Small Business Budgeting Summary: (11:39)
Watch Next: How to Create a Budget for Your Small Business • How to Create a Budget...
Interested in talking with someone from our team? Sign up to get notified when we are accepting new clients here: lyfeaccounting.com/coming-soon/
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
If you enjoyed this video, check out the 2022 version here: th-cam.com/video/e32WwNVQn08/w-d-xo.html
Hi...I'm 22, making not less than$ 3,000 in 2 weeks from my investment in financial market. I've been looking forward to starting a business and this is very helpful. Thank you.
Financial market is very profitable but it requires experience and expertise. You must be a pro.
Can you teach me how to invest in financial market?
@@coga4822 I'm not a professional and i don't trade by myself either. My trader handles all my trading activities while i monitor the progress.
@@jonipetty6081 which of the markets do you trade?
@@truthlevi2693 my portfolio is diversified into various market sectors. Stocks, forex and ETFs.
you know exactly what you're talking about. This will help anyone make sense of their business sales. you can apply this to a regular paycheck also the principle of it all tracks every dollar and eliminates not losing or not knowing how you're gonna spend every dollar.
Wow. I was so stressed today about creating a budget. This is amazing man. Thank you so much.
Glad this video helped you so much. You're very welcome!
Do you the new client? I have cpa questions.
I think its game changing when business owners plan their financial goals, and then monitor them weekly. This really helps drive performance by getting focus on the ultimate goal, of making profit and cash! This really helped me clarify my message in my latest video, thanks!
Thank you I also am a kid and needed help for my business.
Super solid video! Just what I needed.
New to your page .. thanks for the information am 23 and looking to open my 3rd business atm in planning my biggest problem is budgeting myself I know how to make money and even if I fail at times it don’t bother me ..what bothers me is not knowing where all my money keep going looking forward for more of your videos
Thanks man. This is really helpful.
I watched the introduction and i subscribed. Your enthusiasm is great! Continue your great Work!
That means a lot, thank you
I absolutely loved your explanation - you are the first person who really helped my light bulb go off in my brain about truely what a budget is all about - Thank you.
Glad I could help!
Well you are an absolute treasure! 🙌🏾
This was great! Extremely detailed 🎉❤
Great stuff, where have you been all my business life? So simple to understand and it totally demystified the dreaded budget hideous (for me) subject. Thank you Sherman!
Happy to help & thanks for watching! What kind of business do you have?
Thank you for this content! 😊👏🏻
Great informational, step by step video! I'm gonna work on my budget today!
Budgeting is very importat and this is a great video. Thanks!
LOVE This video Sherman!!!
omg thats a lot of info, im gonna have to watch this again lol. great video guys thank you (:
Hope it blesses you!!
Great tips ! Thank you!
Really appreciate the simple steps you gave to create a budget.
Thanks!
Thanks for the vid sir!
Wow this was SO HELPFUL!! Definitely subscribing. Thank you!!
Ohhhh it only gets better from here! Thanks for watching and subscribing. - Sherman
I loved it so much that I have now subscribed to your channel. Thank you
Thanks for subbing!
Thank you
Thank you for the information.
Any time!
Like the information provided in the video
Mannnm thank you 🙏🏿 ❤😊😊
Fellow CPA here! Love the channel and video!
Awesome! Thank you!
thank you!
Thanks for the info man. Subscribed.
Thanks for the sub! What kind of business do you run?
@@LYFEAccounting It’s a work in progress but it’s logistics related.
Thanks Sherman. Great information!
Glad you enjoyed it!
@@LYFEAccounting Thank you.
I have now watched a few videos because I want to get serious about my finances in my business. This was the only helpful video with practical information. I will say though you might want to just tell people what kpi stands for. As business owners we are not all savvy with accounting terms.
Who said accounting isn’t exciting?? You guys are awesome. Thank you so much for such valuable information and for presenting it in such simple to understand manner. Great summaries as well. I’m sure your videos are helping a tremendous amount of people with their small businesses. Learning how to take control of your business makes this exciting.
Subscribed!
Thanks again! Greetings from Perú🇵🇪 !
Exactly!! Thanks for your feedback! Glad you liked it :)
Yes pay yourself! Great advice
I am here in 2023 and this video is truly helping. Thank you!
Great information. Very clear and understandable.
Thanks! Do you run a small business?
Yes, I have an ATM business.
dude, you save my life 💖
Wow thats so great to hear
Thank you.
You're welcome! Do you currently run a small business?
A very good video
You ignore accounting until things get bad 😹😂😹. So true
wow! are there any templates available online for this kind of budget tracking and management
Great info! The sounds were a little too loud, though (chirps, rings. Etc). Thanks for offering this info!
Noted!
Thank you so much.are these allocations coming from Profit or gross sales
Which ones?
This is a great video. Do you have any advice on what percentages should be maintained for expenses? Example, I get excited when I learn about new technology and I want to purchase and sometimes I do. But I notice that it cuts into my profit. Any tips on “buy or not buy” even when you can afford it?
I just saw the percentages in your video. I suppose I should watch the entire video before I ask questions. Great job. Thanks.
No problem. Glad you found the answer!
6:08 correct me if i am wrong but debt is tax free so basically if you use debt correctly u can live tax free and with the money u got u can invest them into ur business
I tried reaching out to you guys says you aren’t taking any new clients at the moment 😩 is that really the case? I need help
I need your help for 2021 possible for relocating and starting two more business
Asking this on a youtube comment is the absolute perfect public place! Thank you for your comment, very professional.
You can always reach out to us on lyfeaccounting.com
How do we contact your company
❤❤❤❤❤❤❤🎉🎉🎉
He's got a Chris Rock thing going on with his hands.
The how starts in minute 7. Just saying :)
Skip to 3:30
You can't afford to not budget.. Get it? afford... budget... ahhh get outta here.
😂😂
I appreciate this video but 7 minutes in before we start building a budget? Damn bro.
😂 Had to pour the foundation before building the house.
You guys are just wasting our time