Episode 20

Budgeting Principles For Small Businesses With Stephanie Hill-Manuel

Podcast highlights:

What compelled you to become an entrepreneur?
Which financial challenges do entrepreneurs face when they are launching their businesses?
Accounting vs budgeting: what’s the difference?
Do you see many differences between budgeting for big corporations and one-person businesses?
Can you give 3 tips to help anyone who wants to get their finance and their budget right from the start?
Can you tell us according to you what are the main mistakes that entrepreneurs make regarding their finances?
What do you think is the best way to budget for your 1-person business (especially a service-based business/no inventory needed)?

Introduction

My guest of the week is a Certified Director of Operations and Profit Strategist. After over a decade in corporate, climbing the proverbial ladder, Stephanie decided to branch out and work one on one with small businesses. She helps solopreneurs create business goals, outsource a task, streamline their operations or implement a technology solution. She basically helps them create a measurable impact on your organization. Her name is Stephanie Hill-Manuel.

We will do a 2 part interview series because Stephanie has so much knowledge to share. We could not cover properly the finances and budgeting for small businesses in just 1 interview.

This first part is about budgeting for small businesses, tips and mistakes to avoid.

Next week: we will address the profitability aspect of a business. How to make sure your business is profitable and take cost-effective actions?