Page 200 - Budgeting for Managers

Small Business Money Management
183
Time
Rate
Item
Total
Item #
1
seminar
Strategic planning
2 Advanced management $4,000/day 2 days $8,000
1 day
$4,000/day
$4,000
meeting
3 Agenda preparation $300/hour 6 hours $1,800
Report and
4 $300/hour 12 hours $3,600
recommendations
Total payable to vendor $17,400
Travel expenses
5 (estimated, arranged by
client
Airfare $1,200
Hotel $250/day 3 days $750
Travel subtotal $1,950
Estimated total cost
$19,350
to client
Table 11-2. Sample budget for bid proposal
❏ What is your plan for paying bills when money is tight?
Would you share it with your vendors and employees?
❏ Think of three things you could do to improve the way you
set prices.
❏ Design a template for custom bids so that you can quickly
create a proposal document and a budget spreadsheet the
next time a customer knocks on the door.