Your spending budget.
How much money do you need to be profitable?
The best way to run your business is to know how much money you need to make in order to break even and how much you have to spend to run your business on a daily basis. Separate your business budget into 4 categories:
- Prospective income
- Fixed expenses
- Variable expenses
- Paycheck-allowance
The key to financial discipline is realistic balancing of needs versus wants.
Read the full article at: https://www.waveapps.com/blog/5-financial-tips-for-small-business-owners/
