Small Business Budgeting Simplified: How to Create a Budget for Your Small Business

  görünümler 29,320

LYFE Accounting

LYFE Accounting

Yıl önce

Subscribe: bit.ly/2HJlq46

You can’t manage a small business without a budget.

So today, I’m going to simplify small business budgeting and help you get started. By the end of this episode, I promise you that you will have a clear understanding of where to start with your budget and how to get started.

As a licensed CPA and founder of multiple companies, I am going to show you how we create budgets for businesses we own and for our clients.

Outline:

Intro: ( 0:00 )
Risks of Not Budgeting: ( 1:28 )
What is Small Business Budgeting: ( 3:33 )
Benefits of Small Business Budgets: ( 4:08 )
How to Create a Budget for Small Businesses: ( 6:54 )
Small Business Budgeting Summary: ( 11:39 )

Interested in talking with someone from our team? Sign up to get notified when we are accepting new clients here: lyfeaccounting.com/coming-soon/

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

YORUMLAR: 57
J
J Aylar önce
I appreciate this video but 7 minutes in before we start building a budget? Damn bro.
LYFE Accounting
LYFE Accounting Aylar önce
😂 Had to pour the foundation before building the house.
yasmin steffe
yasmin steffe Aylar önce
I loved it so much that I have now subscribed to your channel. Thank you
LYFE Accounting
LYFE Accounting Aylar önce
Thanks for subbing!
yasmin steffe
yasmin steffe Aylar önce
I absolutely loved your explanation - you are the first person who really helped my light bulb go off in my brain about truely what a budget is all about - Thank you.
LYFE Accounting
LYFE Accounting Aylar önce
Glad I could help!
More
More 3 aylar önce
What a stupid video is so annoying just go into the the main idea how to create a business Budget
More
More 2 aylar önce
@LYFE Accounting I am accountant too. You should jump into the main topic and you did not. Also so many noise background which is very unnecessary. How to build a budget plan, if I want to hire you to do that what will you do? You can ask me few questions to learn about my business goals but right after that you open a spreadsheet and start doing it, building it, right? So how you do that is showing me the steps the details… just like in real life so you can get paid. Same here, show me how actually you build budget for small business. 🙄
LYFE Accounting
LYFE Accounting 2 aylar önce
Lol, I have a Bachelor's, Master's, and CPA license in accounting and you're complaining over a free 12-minute video?
Elnore Barnett
Elnore Barnett 3 aylar önce
Thank you.
LYFE Accounting
LYFE Accounting 3 aylar önce
You're welcome! Do you currently run a small business?
Tori Bird Living
Tori Bird Living 4 aylar önce
Wow this was SO HELPFUL!! Definitely subscribing. Thank you!!
LYFE Accounting
LYFE Accounting 4 aylar önce
Ohhhh it only gets better from here! Thanks for watching and subscribing. - Sherman
Anabel Alexis
Anabel Alexis 4 aylar önce
I tried reaching out to you guys says you aren’t taking any new clients at the moment 😩 is that really the case? I need help
FantasyIslandGirl
FantasyIslandGirl 4 aylar önce
Well you are an absolute treasure! 🙌🏾
Catherine W. V.
Catherine W. V. 5 aylar önce
Great stuff, where have you been all my business life? So simple to understand and it totally demystified the dreaded budget hideous (for me) subject. Thank you Sherman!
LYFE Accounting
LYFE Accounting 5 aylar önce
Happy to help & thanks for watching! What kind of business do you have?
Alexis Cook
Alexis Cook 6 aylar önce
This is a great video. Do you have any advice on what percentages should be maintained for expenses? Example, I get excited when I learn about new technology and I want to purchase and sometimes I do. But I notice that it cuts into my profit. Any tips on “buy or not buy” even when you can afford it?
LYFE Accounting
LYFE Accounting 6 aylar önce
No problem. Glad you found the answer!
Alexis Cook
Alexis Cook 6 aylar önce
I just saw the percentages in your video. I suppose I should watch the entire video before I ask questions. Great job. Thanks.
Emanuel Lopez
Emanuel Lopez 6 aylar önce
Thanks for the info man. Subscribed.
Emanuel Lopez
Emanuel Lopez 6 aylar önce
@LYFE Accounting It’s a work in progress but it’s logistics related.
LYFE Accounting
LYFE Accounting 6 aylar önce
Thanks for the sub! What kind of business do you run?
RD Matthews Electrical
RD Matthews Electrical 6 aylar önce
Great info! The sounds were a little too loud, though (chirps, rings. Etc). Thanks for offering this info!
LYFE Accounting
LYFE Accounting 6 aylar önce
Noted!
Nald Perez
Nald Perez 6 aylar önce
dude, you save my life 💖
LYFE Accounting
LYFE Accounting 6 aylar önce
Wow thats so great to hear
Amos scindian
Amos scindian 6 aylar önce
New to your page .. thanks for the information am 23 and looking to open my 3rd business atm in planning my biggest problem is budgeting myself I know how to make money and even if I fail at times it don’t bother me ..what bothers me is not knowing where all my money keep going looking forward for more of your videos
Creative Business Academy
Creative Business Academy 7 aylar önce
Fellow CPA here! Love the channel and video!
LYFE Accounting
LYFE Accounting 6 aylar önce
Awesome! Thank you!
Nick Harbaugh
Nick Harbaugh 7 aylar önce
Wow. I was so stressed today about creating a budget. This is amazing man. Thank you so much.
Tracy Blessed
Tracy Blessed 5 aylar önce
Do you the new client? I have cpa questions.
LYFE Accounting
LYFE Accounting 7 aylar önce
Glad this video helped you so much. You're very welcome!
Youmaybe Right
Youmaybe Right 7 aylar önce
Thanks Sherman. Great information!
Youmaybe Right
Youmaybe Right 7 aylar önce
@LYFE Accounting Thank you.
LYFE Accounting
LYFE Accounting 7 aylar önce
Glad you enjoyed it!
Ayrique
Ayrique 7 aylar önce
Thank you so much.are these allocations coming from Profit or gross sales
LYFE Accounting
LYFE Accounting 7 aylar önce
Which ones?
Mick Sterling - Wrap Tonic LLC
Mick Sterling - Wrap Tonic LLC 7 aylar önce
omg thats a lot of info, im gonna have to watch this again lol. great video guys thank you (:
LYFE Accounting
LYFE Accounting 7 aylar önce
Hope it blesses you!!
Gabriel Song
Gabriel Song 7 aylar önce
I watched the introduction and i subscribed. Your enthusiasm is great! Continue your great Work!
LYFE Accounting
LYFE Accounting 7 aylar önce
That means a lot, thank you
R P
R P 9 aylar önce
Great information. Very clear and understandable.
R P
R P 9 aylar önce
Yes, I have an ATM business.
LYFE Accounting
LYFE Accounting 9 aylar önce
Thanks! Do you run a small business?
Abel Hurwitz
Abel Hurwitz 10 aylar önce
I need your help for 2021 possible for relocating and starting two more business
LYFE Accounting
LYFE Accounting 10 aylar önce
You can always reach out to us on lyfeaccounting.com
Blot. _
Blot. _ 10 aylar önce
Asking this on a youtube comment is the absolute perfect public place! Thank you for your comment, very professional.
Ursula Köster Páez
Ursula Köster Páez 11 aylar önce
Who said accounting isn’t exciting?? You guys are awesome. Thank you so much for such valuable information and for presenting it in such simple to understand manner. Great summaries as well. I’m sure your videos are helping a tremendous amount of people with their small businesses. Learning how to take control of your business makes this exciting. Subscribed! Thanks again! Greetings from Perú🇵🇪 !
LYFE Accounting
LYFE Accounting 10 aylar önce
Exactly!! Thanks for your feedback! Glad you liked it :)
Lyrics WorldWide
Lyrics WorldWide 11 aylar önce
Thank you for the information.
LYFE Accounting
LYFE Accounting 11 aylar önce
Any time!
Kaden Sudder
Kaden Sudder Yıl önce
Thank you I also am a kid and needed help for my business.
Sean Standberry
Sean Standberry Yıl önce
You can't afford to not budget.. Get it? afford... budget... ahhh get outta here.
LYFE Accounting
LYFE Accounting Yıl önce
😂😂
Keran Smith
Keran Smith Yıl önce
Really appreciate the simple steps you gave to create a budget.
LYFE Accounting
LYFE Accounting Yıl önce
Thanks!
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