Starting a business can be a great challenge, the reality is that no matter how successful a product you think you have, a business will not be sustainable over time unless it is profitable and allows you to make a living from it.

That is why today we share with you five tips to organize the finances of your business.

1.Planning: It is an indispensable tool to guarantee the achievement of the objectives, plan your investments projecting income and expenses to avoid running out of resources.

2. Invest to continue growing: Every enterprise needs an initial investment or reinvestment if it is already in the market.

3. Assign a monthly salary: To obtain the turnover objective, incorporate your salary to the fixed costs. You can start with a symbolic number and increase it little by little, as sales grow.

4.Organize and generate routines. For this it is necessary to design spreadsheets to write down expenses and daily routines to complete your movements.

5. Differentiate fixed costs: Obligations to be paid month to month (such as rent, salary and taxes) from your variable costs, which are those that depend on production and sales (such as inputs and raw materials).

Translated by: A.M