Mignon Emy June 4, 2021 Spreadsheet
Whilst Excel cannot clean or structure all of your data for you it does come with some useful functionality for manipulating and analysing clean and structured data sets. This in-built functionality includes pivot tables, sorting and filtering. Filtering alone is a powerful tool and can help to quickly isolate data based on specified criteria. But what happens if your data is clean but not very structured (a common problem). For instance what if you, a client or your team is using colours, fonts or some kind of formatting to classify data in an Excel spreadsheet. In short, you wont be able to filter the data, because Excel‘s in-built filtering logic requires rules based on numbers, dates and text only. It will not perform filtering based on formats. In addition Excel filtering only applies down rows. It will not perform filtering across columns.
Paying off your debt and becoming financially independent has many important parts. The most important of those is creating a budget. A budget gives you an outline of where your money is going and where it should go. In some instances, it can be used to create strict limits for your spending. How well you stick to the budget is up to you. When you reach the end of your budget month, the balance for the month should be 0. Funds in – Funds out = 0. If you end up with a negative number, you‘ve overspent and will need to adjust by reducing budgeted funds in another category or by reducing the total amount of money available for the next month. If you end up with a positive number, you‘ve spent less than you made. Good for you! Now, put that money to good use. Pay down some debt, or put it into savings.
When presenting your business plan to an angel investor you must understand that they will be very interested in your spreadsheets and proformas, but you must also realize that it is typically an entrepreneurial optimistic approach, which causes problems with proformas. Therefore, you should have dueling spreadsheets; that is to say the spreadsheets, which take your best guess and double the time, double the expenses to compete with your optimistic approach. You should be able to present both of these to your Angel Investor; who chances are is a retired business person with a little bit of financial savvy.
Here‘s where the expense sheet gets complex. All of your categories of spending go in column A. Get as detailed as you like, or keep it really simple and just put the basic categories. Generally, the more detail the better. it‘s also helpful to have categories for your categories. A Utilities category for your power, gas, water, etc, categories. Again, detail is good, but be wary of going into too much detail. Column B is where you‘ll put the amount that you‘re budgeting for that category. Column C, how much you‘ve spent on that category to date. If you like (or are a statistics junkie) you can add columns for % of budgeted amount, and % of total budget as well. For our simple budget, we‘ll just leave that out for now.
Most planners are good at multi-tasking and have no problems designing a simple spreadsheet to handle a basic budget or designing a form to handle registration. So, you spend your time designing and stressing out. You end up with a variety of forms that each handle a specific need like registration, exhibits, food expenses and budget. The forms are not connected and do not work together. Hence, you end up having to do additional work merging the information from the various forms into your budget. Why do this when there is a Budget Spreadsheet for Meetings on the market that will tie your history, individual forms and budget together? It is so easy that all you have to do is enter the information. The spreadsheet does the rest.
When Microsoft Excel is used to manipulate, store and analyse data it can become extremely difficult to manage, let alone efficiently work to produce any meaningful insights. This is because with data sets large and small, the data must be meaningful, logical, structured, internally consistent and clean. This holds true regardless of whether the data has been imported into excel from another system or manually entered. In this computing age, most people know that for any data set to be useable it must first be relatively structured and clean. A spreadsheet and its table layout naturally encourages data to be somewhat structured, however ensuring data is clean is also difficult.
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