A business is a linked sequence of activities that transforms inputs into sellable outputs. In order to build a valuable business, you need very defined inputs, processes and outputs. The more specific you are about what you do, the easier it is to scale and the more profitable you are. If you know exactly what your customers expect from you, then you know how to compute your targeted profitability.
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Budgeting for efficiency and profitability
No one starts out building a house without a plan. In the same way, profitability is more likely when an entrepreneur creates a detailed plan. Without the big picture view, you can't put together the little pieces: If you have ever tried to put together a puzzle without the big picture on the box, you know what I am talking about. A budget is like the picture your business patterns
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