Organizing Your Income and Expenses
As a business owner, you have to know how to keep track of your income and expenses. You should also know how much money you need to make in your business to cover your life expenses. There are two revenue amounts you should know: (1) how much you need to cover your basic necessities (i.e. rent/mortgage, car payment, health insurance, food, utilities, etc.), and (2) how much you need to cover your basic necessities, your extras, and your goals. You should strive for the second number, but your first number is a must.
It can be difficult figuring all of that out in an organized way. That's why I've created this spreadsheet to help out! The spreadsheet will also help you determine how you should price your product or service. You can also review the Step Into Entrepreneurship Session 3 video for instructions on how to use the spreadsheet.
Take your time with it and use real numbers, not guestimates (unless you have to).
Additional Tags: money, funds, organization, bills, lifestyle, sales, income, pricing, credit cards