Budgeting Your Money When You Own A Business

Budgeting Your Money When You Own A Business

One of the most difficult things to do when you start a new business is putting together a budget. Without any financial history on which to base income and expenses, it may seem like guesswork, but as part of any business plan a tentative budget can be established with some thought and anticipation for the future.

In most businesses there are two main categories, income and expense. Under your expense category there can be several sub-categories often falling into two main areas of controllable expenses and uncontrollable. While many business owner claim they can control every expense involved in their business, they are simply kidding themselves as some things such as utility cost, the amount of rent and other so-called fixed costs can, and do change, with the owner having no control.

Other expenses such as payroll, insurance and advertising can be subject to a budget, but they are considered controllable expenses. If the business begins to fall off, you can control some of these expenses by laying off employees and cutting back on advertising. However, living by a budget will help maintain profitability in many respects but can also turn against you in the long run.

Depending on the viability of your business it often is a better investment to bite the financial bullet on employee wages and still provide good customer service to the remaining customers until business picks back up. By trying to everything yourself not only will you burn out quickly, but is no one is taking care of the customers, it will not take long until there are no more customers to care for.

There are two ways to budget your business money and that is through set dollar amounts and percentage of income. Many businesses will budget their controllable expenses by the dollar and non-controllable by percentage of income. Obviously a good part of the owner’s time is going to be based on bringing money into the business and how much they have to spend on controllable expenses will be in direct relation to income.

For example, a company earning $20,000 a month in income has budgeted six percent for payroll, providing $1,200 for payroll. If the income level rises to $50,000 the budgeted payroll percent does not change but the dollars available for payroll climbs to $3,000. With an obvious increase in business to create the additional income, the owner will probably need the extra help to take care of business.

There are many other expenses that fall into the payroll account such as worker’s compensation charges, Social Security tax paid by the employer and paid vacation time or other perks determined by the employer. While a budget may be difficult to establish for a new business, it is a necessary evil for all business owners.

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Do you have what it takes to be an e-entrepreneur?

Do you have what it takes to be an e-entrepreneur?
Copyright © Stone Evans, The Home Biz Guy
Author of "Dotcomology - The Science of Making Money Online"

These days, it seems like everyone wants to work
from home and make money on the Internet. But
before you even turn on your computer, the first
question you have to ask yourself is whether
you’re cut out for this kind of work.

The fact is, building a home-based business isn’t
for everyone. Some people like the commute. They
really do enjoy having a boss who tells them what
to do, and they like the routine of working
nine-to-five for an ordinary salary that can
barely pay the mortgage. Personally, I think
they’re nuts.

More reasonably, there are people who are
concerned about the risk of starting up their own
business. They’re not sure it’s worth the
investment of time and money, and they’re scared
of the responsibility that comes with running
their own company. They wonder if there is
another way to escape the rat race.

I’m sure there is. You could win the lottery or
wait for your Aunt Sue to keel over and leave you
her condo. Or maybe you could sit down with a pen
and paper and draw the blueprint for "The Next
Big Thing". Anything can happen... Right?

For me, what happened was creating a successful,
self-running Internet marketing system. It didn’t
happen without effort. It didn’t happen without
at least some initial investment of both time and
money and, of course, it doesn’t happen now
without me making sure that the taxes are filed
and the paperwork is done. But it happened.

I’m my own boss. I work from home according to my
own schedule and I get to pocket all the cash my
business makes. If you’re prepared to give an
e-business the time, the work and the money it
needs to get started and get growing, it can
happen for you too.

Article excerpted from "Dotcomology":
Don't Pay A Dime For Any Ebook, Marketing
Course, Software Program Or Anything Else Until
You've Read This Groundbreaking Document...
Click Here to Discover "Dotcomology" Now!

Annique Beauty Products Launched in Indiana

Annique Beauty Products

The Product Launch of the official distributorship for Indiana for the unique range of ANNIQUE natural beauty products took place on 5 August 2007 at the Sheraton Hotel in Indianapolis, IN.

The launch was a combined tea and beauty product display, with Rooibos (translation = red bush) tea being the main "guest" and focal point of the day. Estelle October and Lyndsay Pienaar from Annique corporate office in South Africa were in attendance, giving the event added value of over 40 years of combined experience and knowledge of the product.

The product range has the unique ingredient of ROOIBOS tea, which is a tea that is produced from the redbush that is found only in the hills on the southern tip of Africa in the Cape Province of South Africa.

Rooibos tea is high in antioxidants and has many properties that aid relief in the Baby Range for eczema, babies colic, diaper rash. The moisturizers and lotions have the same properties that aid in the soothing and calming of the skin, creating a healthy glow.

The tea is caffeine-free, refreshing and healthy. Only the very youngest top leaves are used in the production of the tea and in the extract used for the skin care products.

Congratulations to Indiana for a great launch. Anyone wishing to become a consultant in Indiana should contact Andrea Muller Indiana Whole Youth



Annique Beauty Products are distributed by Whole Youth in California. This is a new and vibrant company and is exploding in the beauty market scene. Distributors are still invited to apply for many of the USA States, and beauty consultants are being engaged for both home parties and beauty salons and gift stores.

Baobab Inc is privileged to be the distributor for Illinois, and invite consultants to contact us for information at sales@baobabinc.com

Gift stores that wish to place an order are welcome to call
Lanky for further information at 1-866-699-9289

New Book published - "Notes from the Gurus"

I have done it again. I am so awfully proud of myself, because I never thought of myself as a "writer". 'Notes from the Gurus" is a book that I have written, giving information from publicly broadcasted webinars of the most prominent internet marketers currently in the marketplace.

Writers are people who smoke pipes (really didn't ever do that but did smoke endless cigarettes in my youth), sit in front of portable typewriters and drink copious amounts of coffee. Certainly not your average 60 year old grandmother, even though my liver may be eroded by too much coffee.

So, after spending two weeks avidly listening to today's illustrious Internet Marketers, all vying to be named Internet Marketer of the Year 2007, I have gleaned insight into the secret ways they all make money. Do we wish it was easy? Actually, it is and isn't. Once you know the SYSTEM, then you can make it work for you. Once you decide what route you want to take, you can then concentrate on doing one thing very well, and learning to do the others so that it fits into your schedules.

All new and aspiring internet marketers, affiliate marketers, copywriters, direct sales sites, will find the information invaluable. Our thanks to those people who gave us their methods.


Check out "Notes from the Gurus" - Hot off the press!!

The most amazing animal video direct from South Africa

Wild Life in Africa is still close to our hearts, and the best vacations that we had were the times that we went into the bush to see the animals up close and personal.
It is hard to believe that in just one month, and at the time of posting, this video has been viewed over 3 million times. Amazing!

How come grandchildren get to be so clever?

The Internet today is comparable to the Industrial Revolution. The speed at which one can access information and goods and services is like the steam engine that revolutionized life for our forefathers.

Life before saw the dissemination of information by way of newspapers, word of mouth and country stores. Small towns relied on the local general stores and waited for travelling salesmen to bring luxuries from the outside world. The pace of life was slow and measured.

Then came the Sears catalog - shoppers paradise right in your own home! This brought it's own little revolution of "buy on line".

Today, the Internet has brought every little town in the remotest parts of the world into the mainstream of a rushing torrent of information and products that can be accessed by the click of a button. Anyone with a telephone and a computer can be privy to the wonders of the world.

The information highway revolution has brought the village to the city, and given the city slicker a taste of countries and places they would never have seen. A trip to the Rain Forests can be taken in a virtual tour, right from your chair. Travel by plane or boat is no longer necessary. You can travel first class in a flash of time in your lounge chair from Ancient Egypt to Science Fiction Galaxies of the future.

All this has spawned a new wave of business practices, new Snakeskin Salesmen, and a new international language. Bits and Bytes are no longer little pieces and bites of food. Webinars are today's seminars. Java is no longer just Coffee. Trawling is no longer fishing for food to eat. A mouse is not something to be trapped and banished from the house. Rather the mouse is today's essential tool!!

My seven year old granddaughter came to the office with me on "take your kid to work day". The fifteen minute drive from her house to the office was an exhausting journey of taxing questions, among them being "where do you go when you die?", and "where does the sun go at night?". When we got to the office, I sat her down at the computer and told her to Google her questions. The fact that she knew how to Google didn't surprise me!

So, off this second grader went, fingers flying over the keyboard, typing in her questions and selecting the results with her finger clicking on the mouse like a fiery extension of her hand. By this time an hour had passed, and I dropped into my chair, mentally exhausted by this barrage of questions.

Her second grader cousin went to his father and said "Dad, I need a credit card for my birthday". "Why?" answered his dad. "Because I Googled Spiderman and want to buy it, but I don't have a credit card!" he exclaimed.

What's my point?

Every question had an immediate answer.

Every child can access a world of information and can absorb and learn at their own pace and intellect. Inquisitiveness can be instantly gratified by a search engine. Somewhere, someone has researched and written an article. Every person can publish their innermost thoghts for anyone else to read. It's like having your own psychoanalyst in your home. Post a blog, and people will answer your questions, fears, hopes and aspirations.

The world has shrunk to encompass your one room, your own chair. You are privy to the wonders of the world.

How lucky we are!

Tribute to Liviu Lebrescu

I was moved and insired by a talk by Rebbitzen Esther Jungreis and have just read her book "Life is a Test". She is a Holocaust Survivor and runs the Hineni Institute of Learning in New York. http://www.hineni.org/rebbetzin.asp

While I was pondering the meaning of life, and one's journey through the good and bad, I was sent the following poem, which I am proud to publish here. I do believe there is a purpose for each one of us in this life. However crazy life seems.

Philip C. Selz wrote this poem about Mr. Liviu Librescu, who survived the holocaust and saved the lives of students at Virginia Tech on Monday and died from gunshot wounds. Philip read it at his synagogue and the Rabbi suggested that he distribute it to as many places as he could. I hope it touches you like it touched me.

My Stand

A Tribute to Liviu Librescu

By Philip C. Selz

In the darkest times we’ve seen, I was sent into the camps

As I smelled the stench of burning flesh, I knew my kin were gone

Survival was my only thought, I knew I must come through

But I didn’t know the reason that my living must go on

And when the war had ended, liberation finally came

And I grew to be a man and shortly after took a wife

And we raised our kids in Israel and we did the best we could

And we lived for those who died and worked to make a useful life

Then a teaching job came to me in America one day

And I thought that building new young minds was destiny for me

So I traveled to Virginia and I made a brand new start

And I taught engineering in this homeland of the free

Now I hear the hallways screaming as shots are fired there

And I hear the terror in the screams and understand their plight

So I bar the door from danger and I tell my students “Run!”

And as the bullets breach the door I know that I must fight

And in these final moments as my life is seeping out

I think back over 60 years and finally understand

My own salvation now makes sense as children flee and live

I was saved that day to save this day, I’ve finally made my stand.