Budget planning for startups

Budget Planning for Startups

Money matters

First thing is that what is this budget planning? It is nothing but to plan all your expenses properly to get profits in the company. Budget planning includes initial expenses, fixed expenses, variable expenses and a lot more. Fixed expenses are like  lease, machinery,etc., Variable expenses are those  which can vary with the time like payrolls, inventory cost etc. Main thing is to remember about break even when your are preparing budget.

 Of all the  things, Startups should plan their  budget properly . Funding plays a key role in the Startups. A properly planned budget can always increase  the chance of funding and there by profits . The fact that you concentrated on your budget planning and on your idea gives a positive edge compared to others with just an idea. Budget planning helps you to explain the investors how the business can spend resources in order to achieve goals.

 Budget planning looks simple and most of us will  have   a perception that the easiest way  to start a company with 2 or 3 people, get  projects and start working on them . When it comes out of the paper and our  thoughts, it is the toughest job of all the other things in the organization. Here we come across all the real organizational situations where we were unable to handle those situations with out experience . Here we have to take care of all the small things and includes a lot  like maintenance, power bills,phone bills, transportation and more and more.

What I feel is that in reality planning a budget for a  home  itself is a  tough job and if you think about a company which has to grow and it has to beat its competitors in the world would be  even more tougher.

16 thoughts on “Budget planning for startups

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  2. Thanks for the excellent perspective on budget planning .would be very much of in handy for the future entrepreneurs .

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