Opening a small business is an exciting and scary prospect. However, the sense of overwhelm may only hit when the owner is preparing their first month's budget. An experienced individual who opens a small business might have insight into how to draft a reasonable budget, but even then, there are things that they won't know. The unknown values are what makes a business's first budget such a terrifying thought.
Forbes Coaches Council members share their top advice for business owners creating their first budget.
Other things to check out:
Alphabet stock soared during Q1 earnings call: why?
When Alphabet reported its first quarter earnings of 2020 Tuesday, investors expected the worst, given Covid-19's grim ripple effect on the advertising and travel industries as well as the company's own budget cuts.
What they got, however, were some assurances that the economic effects of the coronavirus pandemic may not be as bad as they feared. That sparked a sharp rise in the stock after hours, rising to a peak of nearly 10%.
The company reported earnings of $9.87 per share and revenue $41.16 billion on Tuesday -- a miss on earnings and a beat on revenue, based on expectations from analysts summarized by Refinitiv. Investors seemed relieved with revenue growth of 13% from the previous year, sending the stock up about 3% as the release crossed.
Five Budget Management Tactics for Small Construction Firms | For Construction Pros
Here are some approaches to help you get creative when managing small budgets in an environment with limited cash flow
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Try building your budget from something you can control: projected spending. Divide expenses between hard costs (typically about 70% of a project's budget) and soft costs.
Start with your most recent income statement and adjust after reviewing income statements from the past several years to uncover trends in:
Council Post: Seven Creative Things To Do When Your Marketing Budget Is Cut
It can be difficult to continue spending on marketing activities when there's just no cash flow. This is the time to flex your creativity and find ways to help make your marketing dollars go farther. Here are some ideas:
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Look internally, and you may discover special talents of your employees that can reduce vendor fees. Some modern hobbies that can help a marketing team include photography, graphic design, social and influencer marketing, creative writing, and blogging.
While you're here, how about this:
16 phones coming out in 2020: iPhone 12, iPhone SE, Galaxy Fold 2 and more - CNET
Notable updates to the Fold could include a glass display instead of plastic and a bigger internal screen. Some rumors even suggest it will come with an S Pen stylus. Still, the coronavirus pandemic could push back the launch, and Samsung's still having trouble making enough Galaxy Z Flips for potential buyers.
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The phones will also come packed with other top-shelf specs, including the latest Snapdragon 865 chipset, 90Hz displays, a 4,500-mAh battery and a 30-watt wireless charging option. Xiaomi says it'll release the phones in European countries including Spain, Italy and France in April, but stopped short of announcing any details of a possible US launch or release. In Europe, the Mi 10 will start at 799 euros, with the 10 Pro starting at 999 euros.
Coronavirus is hitting small defense companies, but there may be a silver lining | Federal News
Job layoffs and lost revenue are common symptoms of COVID-19 for defense-focused small business; recent surveys and qualitative evidence find contractors struggling over the past few months.
However, small businesses working with the Defense Department are at least partially insulated from most dramatic economic effects of the coronavirus crisis.
The question, and a point of concern for the Pentagon, orbits around whether the type of small and nontraditional businesses DoD has been courting over the past several years — which are considered a paragon for innovation and essential to buffeting near-peer competitors — will be able to survive as the financial impacts of COVID-19 drag on and continue their reverberations into the future.
Leak: The budget-priced 'OnePlus Z' could launch in July
In the months leading up to the OnePlus 8 and 8 Pro 's launch, we'd heard multiple rumors pointing to a 'OnePlus 8 Lite,' but that clearly never came to fruition. But for those wanting a cheaper OnePlus device, not all hope is lost. Leakster Max J today posted an image teasing a 'OnePlus Z' to arrive this summer, suggesting the phone was simply delayed and rebranded.
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The naming alludes to 2015's OnePlus X , a midrange alternative to the company's high-end devices. While a single image isn't much to go on, Max J has a good record of accurate leaks. The design outline also echoes the renders of the OnePlus 8 Lite we'd seen back in December .
Press corner | European Commission
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