How to Create Your Business Budget
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How to Create Your Business Budget

Estimate expenses and cash inflows in order to gain the visibility you need to make good business decisions.
4.6 (37 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
3,326 students enrolled
Created by Dr. Gus Prestera
Last updated 6/2016
English
Current price: $10 Original price: $20 Discount: 50% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 1.5 hours on-demand video
  • 1 Article
  • 3 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Estimate your expenses
  • Estimate your inflows
  • Adjust your goals and strategy based on business needs
View Curriculum
Requirements
  • You'll need to have Microsoft Excel in order to open the budget template provided, but the tool is simple enough that you don't need to know Excel in any great depth.
Description

When you own a business--any business--what you don't know can really hurt you.  This is why successful business owners estimate their expenses and cash inflows and review their budget on a regular basis.  In this course, I'll provide you with a simple budgeting template (.xls) and walk you through how to use it step-by-step, so that you can create and maintain a budget for your business.

Along the way, I'll help you understand the difference among fixed, variable, and discretionary expenses and techniques for estimating your future cash inflows.  We'll take a look at your sales funnel, and I'll provide you with a simple tool that you can use to gauge the value of your funnel.  Loads of videos, mashups, and screencasts to support you along the way.

This course is for new business owners and folks thinking about starting a business.  I designed it primarily for consulting businesses, but budgeting really applies to any business.

If you want to take your business seriously, take this course and start wrapping your head around your finances.  You'll be glad you did.  As your business grows, so does your financial risk, so start building good financial habits early and you'll be fine.

Who is the target audience?
  • Anyone who is starting a business
  • Anyone thinking about starting a business
  • Consultants going from consulting "gig" to consulting business
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Curriculum For This Course
14 Lectures
01:25:44
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Introduction
3 Lectures 16:41

Welcome to How to Create Your Business Budget!  In this course, you'll learn how to address the question: what is the nut you need to crack?  Here I'll introduce you to the budgeting template.  Remember to download it, along with the course workbook.

Preview 04:14

If you're starting a new business, check out this lecture and brainstorm what sorts of expenses you'll be incurring as you get going.  If you like, download and save the course workbook.

Preview 07:51

Here I'll walk you through the Business Budget template just to orient you to how it's set up and how it works.  Remember to download the file.

Tour of the Business Budget Template
04:36
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Estimating Your Expenses (Budget A - Optimistic)
2 Lectures 22:55

In this lecture, I use a screencast to demonstrate how to create your optimistic budget.

Demonstration | Budget A
10:45

Continuation of the screencast for the optimistic budget.

Demonstration | Budget A (continued)
12:10
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Estimating Cash Inflows (Revenue)
4 Lectures 28:24

Your budget isn't complete unless you're estimating revenue as well as expenses.  Here I demonstrate how to fill in the revenue section of the budget.

Estimating Inflows
06:17

Here are some suggested ways you can estimate your revenues.

Tips for Estimating Inflows
03:56

Here I describe what a typical sales funnel looks like in a consulting practice.

Understanding Your Sales Funnel
13:52

Here I provide a Sales Funnel template (.xls) that you can download and walk you through how to use it.

Using the Sales Funnel Template
04:19
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Estimating Your Expenses in a Conservative Scenario
2 Lectures 10:45

In this screencast, I demonstrate how to create your conservative budget.

Demonstration | Budget B
05:34

Continuation of the screencast for Budget B.

Demonstration | Budget B (continued)
05:11
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Wrapup
3 Lectures 07:06

Answer a few questions to check your knowledge and reinforce the key concepts you've learned.

Check Your Knowledge
5 questions

Now you're ready to apply what you've learned to your own business' budget. Work with your business partner(s) to take stock of your expenses and estimate your inflows.  Post your questions, reflections, and insights.  I'd love to hear from you!

Apply What You Learned
02:06

Here I describe the overall Pricing Your Services roadmap and what could be a next step in your journey.

What's Next?
04:27

Here's a coupon to help you continue your journey.

Bonus Lecture: Onto "Setting Sales and Utilization Targets" Course
00:33
About the Instructor
Dr. Gus Prestera
4.4 Average rating
171 Reviews
8,092 Students
6 Courses
Consultant | Instructor | Entrepreneur

Gus has run his own talent development consulting practice for over 20 years and has worked with hundreds of client organizations ranging from pharmaceutical and consumer healthcare product companies to brokerage, banks, and insurance companies, from IT startups to long-established telecommunications service providers as well as law firms, retailers, hospital systems, and chemical manufacturers. His proposals have won—and lost—multi-million dollar deals as well as much smaller ones.

He has earned a PhD in Education with a minor in Leadership, an MBA, and a BS in Marketing as well as a Certified Performance Technologist designation. He has taught Masters-level elearning design courses and frequently delivers live and virtual workshops for leaders at all levels. He regularly presents at industry conferences and is a recognized thought leader in the talent development industry. His passion, though, is mentoring colleagues and fellow consultants as they launch and expand their businesses. Over the years, he has counseled hundreds of business consultants and budding entrepreneurs.