How Budgeting Frees You To Invest In Your BusinessRamon Ray
For years I’ve struggled with being cash flow positive in my business. YES, I’ve started several companies. YES, I’ve sold two of them. YES, I’ve been blessed to have some measure of success. And YES, for years I’ve been in debt, using tons of credit and etc. However, over the past several months I’ve experienced the bliss of saving more, giving more, paying myself more.
Recently, I interviewed Jesse Mecham, founder of You Need a Budget. His software gives you powerful tools you need to better plan and forecast your cash flow. As Jesse says, you should have a role or job for your money. But more important than the software is the MINDSET we need!
Listen to our audio interview, yet another great Smart Hustle Podcast below:
We know Christmas is coming. We know payroll is coming. We know the rent is due. So why do so many business owners act surprised when these bills appear?
We must change our MINDSET towards money and our business.
Jesse shared the story of how he had $200,000 in the bank and he didn’t want to spend it.
However, after he put a budget in place, he realized he COULD afford to hire another staff member and pay them $10,000 a month.
Without a budget, you don’t know what you can spend, or invest, or what you can’t.
The flip side of this is that too many times we spend TOO MUCH money.
We don’t have the money and yet we spend it.
This is also dangerous.
Change your mindset about money and start to build wealth, pay yourself more and give more to others – all within budget.