Creating and sticking to a budget lays the foundation for prosperity and gives you the freedom to turn your attention to other aspects of your business and focus on those things you actually love.

BudgetArticle

While most people would agree that it’s their least favorite part of owning and managing a business, this truth is universal: budgeting is a key component to running a successful wedding company.

Michelle Loretta, of the online consulting company Sage Wedding Pros, initially developed the financial coaching side of her business after recognizing patterns among wedding businesses. “Our industry is full of incredible artists and creators,” says Loretta. In contrast, “Finance is not an area that many people have learned—or care to be involved in. But—it’s so important. Numbers are the only quantifiable metric for whether a business is thriving, or merely surviving.”

So how can you thrive instead of just survive? Never fear. Let’s explore some of the industry’s best tips for setting goals, monitoring progress, and steering your business’ financial health in the right direction.

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