Profit planning/cash budgeting is the process by which projections are made to cover future periods. While looking at financial statements tells you where you have been, budgeting focuses on the future and “where are we going?” or “what if?”. Smart entrepreneurs predict the “flows” in cash and make plans in advance for required funds. They understand the difference between seasonal requirements and long-term growth. What are best practices for budgeting for future growth and expenses?
Here are some articles on the topic to help you prepare:
Budgeting Systems
How to Better Manage Your Cash Flow
How to Forecast Revenue and Growth
We are meeting with the mentors this Thursday, April 3rd at 6 p.m. to discuss how their groups are doing and any suggestions/comments they may have for the future. Thank you to the proteges who have completed the online evaluation, as well as those who attended the evaluation session last month. We appreciate your feedback and will be incorporating your suggestions into the program soon.
As always, if you have any questions or concerns, please contact Brooke Weishaupt or Marty Vanags at
(309) 452-8437.
