The Small Business Doer

Overview

I knew going into December that it would be a slow month. What I didn’t know, was how slow it was going to be. Luckily, it was a bit busier than I had anticipated in my business plan. A bright spot in the month was that I received income from other areas other than video. If I only had my video production income, it would have been a terrible month. In fact, there were a few non-video projects that I was set to do in December that were pushed back to the new year in January.

I was glad for the slowing of work in December so that I could concentrate on getting my business organized and looking towards what I wanted to do in 2011. I find it really useful to be able to get a bit of a break and re-calibrate your goals.

Budget

Income was quite on track, expenses fell off the track.

Items that were off track were advertising, business licensing, meals and entertainment, equipment expense, and software to name the big ones. This doesn’t overly concern me though as I know exactly why all these expense were higher than budgeted back in January of 2010. Advertising, equipment, and software are all due to my investments into my vancouvervideographer.ca site. I renewed and paid for my business license at the end of 2010 as opposed to the start of 2011. I am though spending more on meals, so that’s why that budget has been higher than usual.

Overall, Income was lower than expected, but if I took out my business expansion expenses, it would be on par with what was predicted.

Conclusion

I enjoyed the month of December but am looking forward to the whole of 2011, as I believe I’ll be able to make great strides in my business in 2011.

Profit & Loss Budget vs. Actual – December 2010

Profit & Loss Budget vs. Actual - December 2010

Updates

1. Check out the next update A review of 2010 and a look at 2011
2. Check out the previous update November 2010 business plan update
3. Check out all the updates