Budgeting is a crucial part of running any business. Small and midsize businesses face an even tougher task because they have few resources to work with and the decisions they make now will have huge ripple effects for years to come.
Make sure your SMB’s budget puts you on the right track to lasting success by following the tactics discussed in this week’s Whiteboard Wednesday episode. These tactics are:
- Monitor expenses with sophisticated software.
- Think long term to ensure you are laying a strong foundation for the future.
- Calculate the return on investment before making purchases.
- Consolidate debts and other obligations to simplify and speed up the repayment process.
Enjoy this video and keep coming back to the Fishbowl Blog for information that can really help your SMB rise above the pack.
Robert Lockard is a copywriter with Fishbowl. He writes for several blogs about inventory management, manufacturing, QuickBooks, and small business. Fishbowl is the #1-requested manufacturing and warehouse management software for QuickBooks users. Robert enjoys running, reading, writing, spending time with his wife and children, and watching movies.