A business plan isn’t complete unless you have a solid understanding of how much it’s going to cost to run the business.
“Is there anyone here who, planning to build a new house, doesn’t first sit down and figure the cost so you’ll know if you can complete it? If you only get the foundation laid and then run out of money, you’re going to look pretty foolish.” ~ Luke 14:28
All too often I see entrepreneurs set out to build a business on a great idea, with no clue if they can pull it off. This usually leads to a great deal of stress, loss of money, lack of relationship, etc.
While I’m usually the first person to celebrate with you about your great idea, (High I and D) I’m also going to be the first to push you to process through every possible income and expense of your new venture, because truthfully, desperate doesn’t sell!
Some things to think about for your business plan budget…