SBA Email Booster Shots™ Booster #367
Small Business Advisors Ltd.

Income not Ifcome. I often observe that many folks who prepare budgets or financial forecasts focus too much on “Ifcome” not Income. This occurs when you focus on potential revenue streams and construct your expenses based on that set of numbers. It is critical in these times to focus on the known Income and prepare your costs based on this assumption. If you have developed new lines of business or new income streams count what you know and for the remainder construct a separate forecast of the “might be”. This will make your life a lot easier as spending funds before they are earned can lead to very harsh realities for you as a person and as a business owner. So be cautious and conservative and focus on income that you know you will have. As I tell many of my clients – “Cut the cloth to fit the pattern.”

" I'm living so far beyond my income that we may almost be said to be living apart.

- e e cummings

Phone: (441) 238-1682
Fax: (441) 238-1674

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