People don’t see the importance of an operating budget. You need a balance. Picture by Stevepb

I am even more serious!

After doing your startup budget, it is time to do a forecast or an operating budget. I like to do it over three years but you can do it for less if you aren’t sure of the expenses or sales at all.

I use this budget template that I modified to my first online shop.
If you make any changes to it, make sure you add the new row to the calculations.

If you haven’t done a startup budget yet, read about why you need to make one, in my blog post:

Never start anything, without doing this budget first

Of course, it is just a forecast and you probably will use more money than anticipated, and therefore you should always multiply with something between three and seven.

It is always better to be prepared for unpredictable expenses than get surprised by them.

It is a simple operating budget

The budget isn’t hard to do or understand. You just have to plot in the amounts you know and think you are going to use. How much your sales will be and so on.

It will take some time and you might not want to do it but doing this, will help you with the process of reaching your goals.

It is just a forecast

If you after a few months can see that you have hit way off, you can always adjust the budget or make a new one. There isn’t any shame to it. It is actually a great way to reevaluate your business plan.

Not sure of how to make an easy and fast business plan?

Don’t worry.

I know a great and easy business plan to get you started.

Check out the: Nine step Business Plan, right here!

Until next time!

Hafsa Farooq
Freelance copywriter
Digital Marketer

P.S. Want to get behind the scenes with me on Instagram?
Yes I do!
Do it at @HafsaFarooqX2

P.P.S. Get the operating budget template now!

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