Author: Becky Daniels

Today we’re putting these 3 forecasts together: sales/revenue, variable costs, and fixed costs.  Once you are able to fairly accurately forecast these on a monthly basis, you can put it all together. Profit = Sales - Expenses If you put your forecasts together, and the profit results aren’t where they should be or where you… Continue reading Day 7 of 31 Days to Freedom in Your Business

Today let’s talk about forecasting your fixed costs. Do it annually. Do it quarterly. Do it monthly. At first, you might even do it weekly. This is the easiest one to do, and the easiest one to change.  Look at your regular expenses.  See what you spend every month on things that don’t really change… Continue reading Day 6 of 31 Days to Freedom in Your Business

Today let’s talk about forecasting your variable costs. Do it annually. Do it quarterly. Do it monthly. At first, even do it weekly. If you followed yesterday’s step to forecast your sales/revenue for the coming week, this should really be pretty easy.  Step 1: Identify what your variable costs are.  Hourly employee costs, supplies that… Continue reading Day 5 of 31 Days to Freedom in Your Business

Today let’s talk about forecasting your sales/revenue. Do it annually. Do it quarterly. Do it monthly. At first, even do it weekly. Almost any business could make a good educated guess about what their sales/revenue will be over the next 7 days.  This is a combination of what happened last year during the same time… Continue reading Day 4 of 31 Days to Freedom in Your Business

No matter how micro your micro business is, you MUST keep your business and personal checking and credit cards separate.   When you use a business account to pay for personal expenses (or vice versa), you “pierce the corporate veil.”  Ouch.  It sounds painful, and it really is.  What does this mean? When you, for example,… Continue reading Day 3 of 31 Days to Freedom in Your Business