Zen Of Internet Marketing

Ever gotten that gut wrenching fear in the pit of your belly when you thought of making a budget? Then the odds are good you’ve never looked up the word in a good dictionary to find out what this word really means, and figured out how you can use that to your business’s financial advantage.

Here’s the good news. Running your business on a budget does not entail reducing the quality of the things you buy or denying your company anything it needs to operate. What it does mean, is that you have to work out how to make enough income to be able to afford the things your company has to have and to keep your expenditures within the limits of your income.

There’s more good news! The most valuable asset you have is you and your staff, and your income earning potential. If you want more money to spend, then figure out ways you and your employees can increase production to earn more money.

A second definition you need know is this: a BUDGET is the amount of income required for the business to do business, and to attain its goals.

Let’s look at the first part of the definition; how much is needed for you and your company to function. Add up all the money you spent in the past year to see how much money went out the door including what you put on credit cards plus interest. Divide the total by 52 weeks, and multiply it by 1.036. The result is what your weekly budget is. That is the amount of money your company has to generate just to function plus barely keep up with increases in the cost of doing business. That doesn’t include paying accumulating interest on the debt.

More than likely, you have financial goals you also want your company to attain; That’s the second part of the definition. Reaching those goals must become part of your budget as well.

For example: a company owner wants to purchase new office furniture 6 months from now that costs $2,000. They divide the cost of the furniture by the 26 weeks they have before the target purchase date and learn they have to set aside $76.92 every week to have the cash for the furniture. This gets added to the budget, meaning the additional amount of income they have to put into the bank every week.

Most importantly, if you, the company owner, want to attain the goal of financial independence - working because you WANT TO instead of because you HAVE TO — then the most important part of the budget needs to be the wealth building cash you stash in an investment plan and never spend.

Figure out how much money you would have to have in savings to live without working. Divide that dollar amount by the number of weeks until the time you would like to be financially free. Figure out how to make that much more money each week, and you are truly on the right budget track to gaining financial independence.

How badly do you want to be a millionaire in 20 years? Figure out a way to increase the company’s income enough to stash away $961.54 a week in savings for the next 1,040 weeks and you have made it to being a millionaire! The additional interest growth on top of that will be a huge additional bonus that more than keeps up with the rise in the cost of living every year.

Today, with computers in every organization proper budgeting is accomplished much more efficiently than ever before by using Money Management Software, such as shown in this on-line video.. This software functions as a companion to your accounting software for really easy day-to-day operation.

Sandra Simmons, President of Money Management Solutions has years of experience helping business owners and individuals manage their money to achieve financial freedom. To learn more, watch the FREE 5-minute demo video on the website www.MoneyMgmtSolutions.com

- Sandra Simmons

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Tags: Business, Business, credit cards, money, Video, website

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Tags: Business, credit cards, money, Video, website

This entry was posted on Monday, January 21st, 2008 at 3:01 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.