Here’s what we will cover today:

• Learn how to budget for growth, not just expenses

• Download a business plan template used by thousands

• Discover Brian Chesky's view on 1-on-1 meetings

Quote of the Day

"The voyage of discovery is not in seeking new landscapes, but in having new eyes.”
~Marcel Proust

Today’s Tip

Many small business owners make the mistake of creating a budget focused solely on covering monthly expenses. While this is essential, it's equally important to budget for growth and future opportunities. Here's how:

1. Identify Your Strategic Goals:

   • Clearly define your short-term and long-term goals.

   • Are you planning to launch a new product, expand to a new market, or hire additional staff?

2. Allocate Funds for Growth Initiatives:

   • Research and Development: Set aside funds for product innovation or service improvement.

   • Marketing and Advertising: Budget for promoting your brand and attracting new customers.

   • Hiring and Training: Allocate funds for recruiting and onboarding new talent.

3. Utilize Budgeting Tools:

   • Financial Software: Employ software to track income and expenses, forecast future trends, and identify potential cost-saving measures.

   • Regular Reviews: Schedule regular reviews of your budget to ensure it aligns with your evolving business needs.

By proactively budgeting for growth, you'll be better positioned to seize opportunities and drive your business forward. A well-crafted budget is not just a financial plan; it's a strategic roadmap for success.  

Today’s Resource

Writing a business plan? Use this template…

Over the past 20 years, hundreds of thousands of entrepreneurs, executives, and business owners have contacted me for help with their business plans.

100,000+ of them have used my business plan template to quickly and expertly complete their business plans.

And they’ve collectively raised billions of dollars and have gone on to build some pretty incredible companies.

Trivia

Today’s Question: In 1933, how much did a night's stay in a double room cost at the famous Waldorf Astoria Hotel in New York City?

Previous Question: Where did Levi Strauss come from, and what did his blue jeans first sell for in 1850?

Previous Answer: Levi Strauss came from Bavaria, and the original price of a pair of his jeans was $1.25.

Levi Strauss, the inventor of the quintessential American garment - the blue jean - was born in Buttenheim, Bavaria on February 26, 1829, to Hirsch Strauss and his second wife, Rebecca Haas Strauss.

In January of 1853, he became an American citizen, and in March he arrived in San Francisco, establishing a dry-goods business under his own name and also serving as the West Coast representative of the family’s New York firm. In 1863 the company was renamed “Levi Strauss & Co.”

News

Marketing via Audience Research

Why Brian Chesky doesn’t believe in 1-on-1 meetings

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