Depending on the type of business you run, you may have to set up your budget in a slightly different way in order to succeed in the long-term.
If your business is seasonal, the revenue you generate may not be consistent month-to-month. You may have less cash flow to work with during your slower months, which means you may need to reduce your variable and discretionary businesses to keep your business running smoothly. Predict when you might run into slower periods and adjust your budget accordingly.
If you run an online store, make sure to include shipping costs in your monthly budget. You can charge your customer shipping fees, but make sure you’re also including them in your budget so you know exactly how much you need to cover the costs. You should also include expenses related to website hosting and design to ensure you’re covering costs to maintain your website.
If you run a freelance graphic design or writing business, you should include costs for tools and software you use for day-to-day work. Also include any costs for buying and maintaining equipment you use for your work, such as printers and laptops.