Is Your Business Budget Still Working for You?
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Most business owners create a budget once, feel good about it, and then don’t look at it again until the following year. But if you’re not reviewing your budget regularly, it’s probably not working as well as you think. Business isn’t static, prices change, revenue shifts, expenses creep in, and unexpected things pop up. So your budget needs to adjust with you. Here’s how to check if your budget is still working and what to do if it’s not: Step 1: Look at your actual numbers Open your Profit & Loss report and compare the last 3–6 months of real data to what you originally planned for. For example, you might’ve budgeted $200/month for software but now you’re spending $325. Or you expected to bring in $8k/month in revenue in a particular service but you’re averaging closer to $5,500. That’s a clue something needs adjusting. Step 2: Spot what’s changed Have you added a new team member? Started a subscription you forgot to budget for? Maybe you’ve invested more into marketing or ads than planned. Changes are normal, but if your budget doesn’t reflect them, it can throw off everything from cash flow to tax planning. Step 3: Reconnect it to your goals Your budget should help you move toward your goals not just track what you did spend. If your focus is growth, is your spending aligned with that? Are you investing in the right things? Do your numbers support your goals for upcoming launches, promotions, or marketing pushes during your busier times? If your books are messy or your reports don’t make sense, it’s nearly impossible to review your budget accurately. That’s where we come in. We’ll help you clean up your books, get accurate numbers, and walk you through how to review your financials with confidence. Contact us today to learn more! |
B. Balanced Services LLC
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