Do you make sure you have the budget first before starting a new business?

[Grant]

If you started your own business, have you ever set aside a budget first before making the attempt? I know it's always best to have a plan in motion before starting anything, and that includes a good enough budget to make it happen. But do you ever make sure you have the budget first before you do anything?

 

[Good-Person]

If you started your own business, have you ever set aside a budget first before making the attempt? I know it's always best to have a plan in motion before starting anything, and that includes a good enough budget to make it happen. But do you ever make sure you have the budget first before you do anything?

I think that I would definitely try to create a budget first. I think that this is something all businessmen would do and this is a great thing in order to manage your capital and investments in the first place.

 

[Syldan]

Actually budgeting is the fundamental of all business.
if you haven't budgeted for a business, you shouldn't start because you won't know what will cost you or know if the available resources can be enough to start the business.

 

[Abigael]

Yeah, I think a budget is very important for a business startup. It is what will guide all your work and ensure that you are doing it right with the money available. A budget should be included in the business plan.

 

[eLdavis]

Before i get the money i usually make all the plans and arrangements, then once i get the money i simply pump into the business. The idea comes first then once i get the money i put it in to become a reality.

 

[Good-Person]

Before i get the money i usually make all the plans and arrangements, then once i get the money i simply pump into the business. The idea comes first then once i get the money i put it in to become a reality.

I think that creating plans beforehand could solve many problems. However, the issue is the fact that many people may have to spend money when they try to deal with problems such as miscellaneous expenses.

 

[eLdavis]

I think that creating plans beforehand could solve many problems. However, the issue is the fact that many people may have to spend money when they try to deal with problems such as miscellaneous expenses.

True that can't be helped, certain times various expenses we do not plan for might pop up at anytime. But having your plan on ground keeps you more focused as you would always have it at the back of your mind that there is something you meed to do.

 

[Danny4cash]

It's a right to have a budget first before ventured into a business. He who fail to plan. Plan to failed. Before you start a business, it's an ideal for you to plan it very well. And that plan revolve round a budget.

 

[Chibson]

Of course it is important that necessary you make a budget first before you start any kind of business. The budget will help to define your expenditure in the business and it can give it a clear-cut direction.

 

[eenya001]

I always make sure I have the right budget first before I venture into any form of business as this would make me to avoid unnecessary losses that might arise from my mis calculation

 

[Kane]

How can you start a business if you have not set a budget for your business? No matter the type of business, you always need investment funds. You not only need investment funds for product manufacturing but also marketing.

 

[Good-Person]

How can you start a business if you have not set a budget for your business? No matter the type of business, you always need investment funds. You not only need investment funds for product manufacturing but also marketing.

Budgeting is important. I remember creating a budget before even trying to trade in the market and this is because I knew that trading in the market would not be possible at all if i never had a good budget.

 

[Kane]

One of the main reasons why a lot of people fail in the business is they do not have a sufficient budget. lack of budget will push you to compromise with the production as well as your marketing efford.

 

[Shaffy]

I've seen the consequences of not planning for enough funds for your business, especially in some niches. If you need raw materials or need to hire staff, you know that you'll need more money than you started with.

 

[Good-Person]

I've seen the consequences of not planning for enough funds for your business, especially in some niches. If you need raw materials or need to hire staff, you know that you'll need more money than you started with.

I have also experienced the same thing as well. The fact remains that there are many people who never planned things in a proper way and they ended up suffering.

 

[Trey]

I am a poultry farmer and I am going to speak strictly from that angle. I advise farmers to have about 80% of the projected feeding cost before stocking birds. It would not be funny when you have to go around sourcing for money to buy food for your birds and they are in the farm starving. With poultry business, every minute without feeding in the farm is a loss to the farmer.

 

[Good-Person]

I am a poultry farmer and I am going to speak strictly from that angle. I advise farmers to have about 80% of the projected feeding cost before stocking birds. It would not be funny when you have to go around sourcing for money to buy food for your birds and they are in the farm starving. With poultry business, every minute without feeding in the farm is a loss to the farmer.

Starting a poultry farm may be a great business. I also plan to start one, but I do not have enough space. What do you suggest? Do you think that I could start this business if i have a really small space?

 

[Abigael]

I've seen the consequences of not planning for enough funds for your business, especially in some niches. If you need raw materials or need to hire staff, you know that you'll need more money than you started with.

That is right. The consequences of starting business without a plan are so harsh. Which calls upon people to always draft a budget before launching their business. Make sure to include all expenses.

 

[Syldan]

Starting a business without a proper budget, is just like laying blocks without foundation. budget can really helped you to know how good the business can be in the future. it helps you to plan ahead.

 

[Potuse]

It is always better to have a budget stipulated before you can think of venturing into a business because that is what will determine the size and the type of business to establish.