How to create a business budget?

[Starmix]

It is very important to know and apply the business budget. We always talk about budgeting and we might not know the real ways to do it. These are the following suggestions on how to create a business budget.

1. Analyze your revenue;
2. Identify fixed costs;
3. Identify variable costs;
4. Cate a contingency fund;
5. Estimate your profit, and
6. finalize the business budget.

Are we all doing these ways in creating a business plan?

 

[Fidelia]

The part of a business budget that you can reasonably tweak is the variable costs. A smart business person would creatively tweak it to lower the cost of production.

 

[King Belieal]

Creating a business budget requires that one should be strategic in allocating costs and revenue so that they don't overshoot or undershoot.

 

[Augusta]

it is always good to budget for a business then estimate your profit, and spend from the profit of the business