{TIP #3} HAVE A BUDGET OR CASH FLOW WORKSHEET
Jul 02, 2020
I cannot stress this enough - you need to have a budget or a cash flow worksheet so that you know what is coming in and out of your boutique business!
I just did a whole YouTube video on this and I will link it for you at the bottom of the post if you want to go a little more in depth. The overall idea of having this worksheet is that you can plug numbers in and know how much you need to sell to cover your costs, how much to reinvest in inventory and also set aside money for things like taxes, loans to be paid back and savings! The end goal for most boutique owners is to be able to pay themselves and if you don’t know what is coming in and out of your boutique, you won’t get there!
Here is a link to a worksheet I developed and how to use it: https://youtu.be/iyT2-V13NsA
Have questions on cash flow or budgeting? Leave them in the comments below!