No Budget..No
Joke
I have just
completed my budget for AnyEvent. This was hard to do, but had to be done. I
sat down and went over everything I spent I never REALLY had to do it before,
but I begin to notice that something’s were not working with my household and
business finances. I was coming up short
(lol) LITERALLY!!! and I didn’t know why.
So I sat down
and begin to make some review of some of the receipts that came in and went
out. I begin to notice a great deal of spending but no incoming to match. I was
like WAIT! RED FLAG.. LITERALLY. Yes I was working hard, and had some
successful events in 2011, but this was crazy!!!
When you are
in business for yourself there are two things you don’t want to do:
- Spend more then what you make
- Work two jobs while trying to run a business.
Well after I
notice all the redness on my budget page, after crying for about 3 minutes and
after praying for God to help me (lol) I decided to go to my accountant and blame
this on no business so it won’t look my fault. I had the nerve to tell him “this
didn’t happen; this fell through” bah…bah…bah. He then looked at me in return
and said “Yea right”
We talked for
about 3 hours and made some serious changes to my budget for business and home.
The one important thing he said, you can’t spend when you don’t have anything
to replace. WOW, seriously (lol). As he explained, a business budget is really the roadmap
that will help and guide me through my initial startup period; it will also
orient me towards the right goals for the life of my company. It’s going to
take a lot of time and work initially, but the time I spend planning can have a
huge effect on how my business will operates.
To
build a successful business, you need to create a specific plan of how much
money you’ll need to spend to get started, how much you’ll need to operate, and
how long it will take before you can start to make money. Those are the three
most important things to know. In other words, if I’m not making I can’t spend
(lol). We sat there and created two
spreadsheets, one for home and one for AnyEvent. We looked at what was coming in and going out.
It was frightening to see the numbers, but I thank God for helping me before it
was too late. He begins asking me
questions:
·
How many events do you want to plan
for 2012? Be realistic
·
What are the direct costs of the
events - ie costs of marketing or staff to make this happen?
There were other
questions he asked me as I begin to see the light!!! We created the budget, I
cut a lot out and I begin to start making some of that end of the year
marketing material I purchase do some work.
Event Planning is my passion, as my Pastor, Dr. Tony Evans
once stated, “you know your passion because you would do it for free”. I love
event planning enough to do it for free, but that was not Good’s intention. So with
that said. I’m now on a budget for me and AnyEvent, I’m making some changes and
I’m looking at my company with a new view. In order to be success, I have to
think successful, and that means making changes were they need to be made, and
that’s in the budget!!! I’m
struggling to accept it, but the budget has and will be best for me and AnyEvent.
Is your company operating on a budget? Does
it need to? Did you have to make changes? I would love to hear from you on how
your business is surviving in the area of finances. Never know, you may just help
some one.
Until next time.. The Business Woman
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| Balancing my budget! |
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