Mike C

Do any of you have a set budget for your internet business; a set amount to spend on promoting your business and whatever else you might need to do for it? Most people I meet don't have a budget, but rather a spending plan; they know what they want to purchase and for how much.

Josie

I guess I'm in that second category too. I usually just plan for expenditures and that's about as far as I go in the budget area.

If I had a lot more business, it would be worth drawing up a budget for the year, and see how well I could stick with it. I think though, that you'd need some starting capital to really make that work, so you could plan your purchases to take advantage of the right timing, instead of when you've finally saved enough through the year

Mike C

That's true. I've been considereing drawing up a budget plan and ditching a spending plan, well, for the most part. Hopefully, my business will prosper so much so that I'll be able to do so. I'm really interested to see how effective a budget plan in this situation would be.

kris

I do not have a budget for my business. I have a pretty good idea of what i want to spend on promotion and things. However, nothing is ever set in stone.

anne

I haven't been planning a budget so far, but I am planning an expansion / relaunch and I have an advertising budget for that, along with a rough idea of how much hosting costs could end up being on high bandwidth months.

Does that count as a budget?

Mike C

It sounds like you're halfway there; you've got a budget plan and a spending plan. You're enjoying the best of both worlds.

Tell me how the advertising budget works out, please. I'm deciding wether or not I should have a budget for my own business.

darren

I do have a budget but it isnt set in stone and it consistanly evolves as i make more or less profit than the previous month.

Roshan N

I do not have a budget either but I do know what I need and when I need it and how much I am willing to spend for it.

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Mike C

It seems like spending plans are the most popular and widely used method of planning. I'm not sure how effective a budget will be; I'm hesitant. If anyone is using a budget plan, please let me know how it's working out.

Super Mod

I'll be honest: I don't really have a budget plan. I put money into different areas of my business each month depending on the performance of the month before. I try to take everything into account from the past as well as think toward the future. It's constantly changing depending on how I "feel," so I don't really have a set budget plan.