Budget.  Many creative individuals avoid using this word.  There is a fear that any financial discussions can lead to a premature death or even worse, a loss of all creative talents.  This is not true.  You will not be less creative if you look at a Profit & Loss statement.  You will be more informed.  “Let someone else worry about the numbers, I want to focus on my craft” a client once said to me.  He is not alone in that thinking.  Hell, It was six years before I explored the “Set-Up Budget” area in Quickbooks.

I’m not suggesting that you should become a CPA, fire your bookkeeper, and take on all accounting responsibilities yourself.  In fact, if you have the resources you should build a solid team of individuals that eat, sleep, and dream about maintaining your financial picture.  What I am suggesting however is to get to know your books enough so you can make informed decisions.

It’s not too late to put together a 2012 budget.  With two months of expenses in the books, this is not a bad time at all.  My annual budget was no more than a piece of string on my finger, a reminder of the goals I set out for myself.  Follow the same instincts that put you in a position to run a company, then use your budget to confirm those instincts are in line with your annual goals.