Podcasts Business Profit Is A Choice Managing to a Budget in Your Design Firm

Managing to a Budget in Your Design Firm

Published: Feb. 6, 2022, 11 a.m.

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182: Managing to a Budget in Your Design Firm

with Michele Williams

Do you currently create a budget for your new year and then manage to it? If so, you are going to enjoy this podcast. If not, I ask that you listen with an open mind and perhaps are swayed to begin this process of financial management. Either way \\u2013 let\\u2019s talk about budgets and how to manage to them effectively in your firm.

Topics Mentioned:\\xa0

  • Create a budget

  • Anchor points

  • Review

  • Plan

Key Thoughts:

  • Creating a budget can be a very detailed, arduous task, or it can be an opportunity to create a financial pathway to success. Michele (2:31)\\xa0

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  • The first step is to create a budget. I love to create mine simply by going into my QuickBooks Profit and Loss statement for the prior year and downloading it into Excel.\\xa0The beauty of this is that it allows my budgeting to match line by line to my accounting software. Michele (3:01)\\xa0

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  • Creating a plan for the income that you expect is crucial to your ability to manage your finances with reduced stress. Michele (7:28)\\xa0

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  • That is the beauty of a budget. It is a blueprint for spending. It is like creating your meal plan or packing list for a trip and then going a bit on auto pilot knowing everything will work together. Michele (10:57)\\xa0

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Contact Michele:

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References and Resources:

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