Procrastination At Home Affects Your Future Business Uprooting Weeds From Childhood
Guideline # 5: Get Household Finances Under Control Or Your Business Will Go Broke!
Your household budget is a prototype of your business' general ledger. This is no exageration. The way you handle your personal finances is a reflection of how you will handle your business finances.
Budgeting for household expenses is a chore that people prefer to put off indefinitely without realizing how profoundly this impacts their future business ideals.
Fewer words in this area carry more impact. So let me put it bluntly to you.
We all know when something is wrong with our budgets. Bills pile up and remain unpaid for weeks. The only time you jolt out of your complacency is when the utility company calls to tell you they're cutting your power in 3 days if you don't settle your bill.
The delay in payment is not necessarily because you need to earn more money. It's because your budget needs fixing.
Hard to bear, but it's the truth.
We cannot live indefinitely beyond our means. A budget delineates in black and white and by definition the limits of how we can live, financially speaking. Revisit your lifestyle choices and redefine it in writing by revising your budget.
Postponing having to deal with this reality is a sure way to disaster!
Nurse your budget back to health. Make the choice today. Procrastinating will only make the problem worse, by ensnaring you into a deadly habit that will make running a business impossible for you.
Accounting is crucial to running a business successfully. Tracking your cash as it flows like blood through your operation is a critical business skill and you hone it at home by faithfully keeping to a budget.
What To Do
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