Nannette Lily May 3, 2021 Spreadsheet
You can go over your budget as often as you like. Some find it easier to enter amounts every day after they‘ve settled in for the day. Others will choose to go over it monthly. Going over it weekly is likely where most will settle though. Occasionally, we‘ll have a surplus or deficit at the end of the month. Perhaps you‘ve spent too much, or not spent all that you thought you would. Spending too much can be troublesome, but not spending as much as you thought can be a lot of fun. You may want to consider adding a budget field carryover in the income sheet and one called shortfall in the expenses sheet. If you spent too much, the amount that you overspent by becomes your budgeted amount for shortfall in your expenses sheet the next month. Didn‘t spend enough, and you put that amount in the carryover field in the income sheet. This will help you keep track of all your money as well as account for any shortfalls.
Microsoft Excel is a phenomenally powerful calculator. You can create spreadsheets with 10,000 lines of data and calculate subtotals instantly. Indeed, if you change your data, any totals will get automatically updated. Arguably that‘s not too impressive. If we have quarterly revenues of $1m, and we secure another $20k, we can update our subtotal without summing revenues from scratch. So it‘s more impressive that Excel can do the same thing with statistical functions. If you‘ve ever plotted a chart on Excel, you may be aware that you can add a best fit line. These best fit lines are calculated using a method known as regression. Basically, you have to calculate the distance of every single point from the line, and minimise the sum. The maths is a little more sophisticated but the key point is that, every time you change the data, you need to perform the analysis all over again.
It does have one severe limitation. Goal seek is not a formula. It does not permanently reside in the spreadsheet or the selected cells. Therefore you have to re-run Goal Seek each and every time you change the spreadsheet. Often this is acceptable because you have created a model specifically to calculate that one parameter. Having said that, there will be occasions where this is inadequate. What are the plans for your meeting or convention this year? Does it start with a budget or did you even do one last year? If you did one, did you do it the easy way with a Budget Spreadsheet for Meetings? Let us discuss your needs and see what forms and budgets can be facilitated the easy way. If approached correctly, you can cut your ”Hassle Factor” by more than half with the right event template.
This will show your Angel Investor that you indeed are a rational thinker and concerned about the money as well as the truth. If the Angel Investor cannot trust you your chances of being funded are nil. An angel investor is betting on the jockey not only the horse. As an entrepreneur you must be honest with yourself as well as your financial partner. They want to make sure you believe in what you are doing and that you also have risked your own capital, time and energies into the new business. Angel investors want you to succeed and often they also like to give their input and if you end up taking their money for your startup, the need to realize that their input needs to be taken seriously.
The former hangs like a transparent curtain four feet above the floor and shrink-wraps itself to anyone bold enough to attempt passing through. The latter represents a fragrant blend of beer, cheap cologne, and unkempt toilets, and assaults an unsuspecting visitor‘s nose like an aggressive index finger. By Saturday, the fragrance would be pungent enough to cause mere mortals to speak in tongues. Lance led the way with Lester in tow, dodging around dark figures that emerged from the nicotine and odoriferous fog. Lester had difficulty keeping up, licking the lenses of his glasses and tie-drying them as they wove their ways toward diffused light they assumed was the bar area where lusty women awaited.
In a well-designed spreadsheet, any output can be calculated from the raw data. However, that‘s not always enough. Sometimes the output is fixed and the raw data is variable. Let‘s say you run an investment company and want to offer your clients a fixed return. An Excel expert could create a very complex model to calculate the likely return on investments over a fixed period. You could then calculate the internal rate of return being offered to clients. The problem is that you‘re not interested in the return offered to clients; that is, after all, fixed. Instead you‘re concerned with how much money you expect to draw from the investment fund, whilst still offering your investors a satisfactory return. If you have $1 and owe investors a quarter, you can calculate your profits using a simple formula.