When building a business budget, get yourself in a flexible frame of mind. Setting a budget, say for a year at a time, that you’re unwilling to tweak could be a detriment to your finances, rather than the help that’s intended.
Look over your budget monthly with your team, and be willing to make smart changes, based on the expenses and income your company is looking at — particularly by taking a realistic look at your sales predictions. How much will you really be bringing in over the coming month?
