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Unlock Your Business’s Full Potential with the right Budget

Let’s break down the essentials of creating a budget that empowers you to make confident decisions and take full control of your business finances. 📑💡

Author

Sitan Cissé
December 24, 2024

Hey there, future Brand Giant!

Listen, I know managing money in your business can feel overwhelming. Trust me, I've been there - staring at numbers, wondering if I'm doing it right. But today, I want to share something that changed everything for me and countless other business owners across Africa.

But first things first: 
As someone who's worked with many African SME entrepreneurs, I've seen firsthand how the right structures transform businesses.

After watching talented founders unable to scale their businesses and get rejected by programs and investors simply because of fixable business structure issues, I knew something had to change.

That when I developed our Scale and Lead Program.

Our 6-week Program helps you:

  • Build a category-defining business

  • Create systems that scale

  • Connect with other visionary founders

  • Access to our asset-investment platform (Beta version)

P.S: You can already start engaging with fellow SME entrepreneurs today by joining our WhatsApp Group.

Why Are We Talking About Money Plans?

Look, we all know that feeling - money comes in, money goes out, and sometimes we're just praying we have enough left for tomorrow. But here's the truth: your business deserves better than prayer-based accounting! 😅

  • Stay in control of your finances

  • Prevent cash flow crises

  • Plan for growth and future investments

  • Build trust with investors and partners

Let's Break This Down - The Simple Way

01 | Income: Know Your Money In 💰
This is every coin that flows into your business:

  • Your daily sales

  • Those special orders

  • Any other ways you make money

For example, let's say you run a bakery:

  • Regular sales: $1,200 monthly

  • Special orders: $800 monthly

  • Total in your pocket: $2,000 monthly

02 | Fixed Costs: Your Must-Pay Money 🏠
These are costs that stay the same every month, like rent and salaries.

Example:

  • Your shop rent: $300

  • Your people: $500

  • Your insurance: $50

  • Total must-pays: $850

03 | Variable Expenses: What Changes Monthly 🔄
Costs that fluctuate with business activity—raw materials, utilities, marketing, etc.

Example:

  • Your ingredients: $400

  • Your electricity: $150

  • Your transport: $100

  • Total variable costs: $650

04 | One-Time Expenses: Preparing for the Unexpected 🏦
Account for costs that pop up occasionally, like equipment repairs or marketing campaigns.

Example:

  • Repairs: $100/month

  • Marketing campaigns: $50/month

  • Total Savings: $150/month

05 | Profit Margin: Measuring Success 📊
Your profit after covering all expenses.

Formular: Profit = Total Income - (Fixed Expenses + Variable Expenses)

Example:

  • Total Income: $2,000

  • Total Expenses: $1,500

  • Profit: $500

Your Action Steps This Week

  • Write down everywhere your money comes from

  • Track your spending (a notebook works fine!)

  • Set Savings Goals: Allocate money for emergencies and future growth.

  • Monitor and Adjust: Review your budget regularly and adjust for any changes.

Look, I know this might seem basic to some, but I've seen too many brilliant businesses struggle simply because they skipped these fundamentals. You're not just running a small business - you're building a legacy that will make Africa proud!

Now it’s your turn! Start creating your business budget today and watch your business grow!

Cheers,

Sitan

P.S. Don't wait to connect with other business owners who get it. Join our WhatsApp Group today - we speak your language! 🌟