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3. Choose the ideal toolWith all this data in hand, you can now start structuring your business budget. For this, you need tochoose the ideal tool.4. Be aware of what should be in your budget5. List all your fixed and variable costsOperational Management, Assessment 1 v2 Last updated on 10/09/2019 Page 8
T-1.8.1_v3federal, state and municipal taxes;website hosting expenses;accounting Service;safe.Variable costs:acquisition of raw materials;water, gas and electricity consumption;expenses with printing and stationery;hiring freelancers;marketing and advertising expenses;transportation costs;commercial reforms;participation in events for entrepreneurs.6. Make a projection for the periodThe next-to-last step to budget success is setting up a projection for the period. That is, based onall the data and information you have gathered throughout this process, you will need to set up abusiness projection.Estimate income and expenses, working capital provision, equipment and tool purchases, andprojected business growth.Try to set up a calendar with the steps you intend to accomplish throughout the year. This will helpyou meet your schedule and prevent your expenses from exceeding the limit.7. Track ResultsIt must be made clear that it is not enough to follow all these steps. Tracking budget compliancethroughout the year is critical.Monitoring is an essential phase for the success of your business as it helps identify failures beforethe problem gets bigger and bankrupts you.It is therefore a preventive measure. In addition, this strategy allows you to identify opportunitiesfaster, which favors your competitiveness.