How do you do a monthly budget for your business?
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After being in business for 23 years, the years have taught me to keep my expenses low and my overhead even lower. I have been in the same building all this time and have paid rent on an office that has fluctuated very little over the years. This business, like a lot of other businesses, is a roller coaster. You have your good months and not so good months. You save for those not so good ones so you can continue to pay the bills. Watch your expenses particularly your rent payments. You don't need an extra fancy office to succeed in your business. Something adequate, comfortable, clean and large enough to operate is all you need...….could tell you stories of people starting out in business who rented 2500 sq. ft. spaces when 800 would have been fine, and not able to pay the rent...…….Hope this helps!!
2 Replies
Sheila Hughes
from Sheila Hughes Agency Inc
I so agree with this Patricia , I've been in business 20 years , always operated with low expenses . I always say it is the key to my business success - making wise and reasonable decisions on fixed costs such as rent/office space.
Jacalyn Wilson
from Remax Realtor
I agree. Overheads keep them low.