Save 1% of sales per month. We currently use our checking account to cover operation costs and anything out of the ordinary that comes up. We want to build a savings cushion so we can more easily deal with the unexpected.
We've successfully owned and operated Milo's City Cafe since September 1999. This is a neighborhood restaurant that our whole family participates in. My wife Marianne runs the dining room and its crew, and takes care of the guests. I run the kitchen, take care of maintenance and run the office. All three of our kids, our parents, nieces, nephews, cousins brothers, and kids of friends and customers have all worked with with us in some capacity. As we evolve, I want to make sure we are running the business efficiently and economically.
To work with Umpqua Bank to evaluate my current business finance processes and look for ways to do things better. I want to learn from the folks at Umpqua and other business owners who have experience dealing with some of the same issues I wrestle with.
As my Save Hard Spend Smart experience comes to an end, and Milo’s celebrates 10 years of business, I’ve had a chance to reflect on some of the lessons learned over the past couple of months. When I started blogging for Save Hard Spend Smart, I had set a goal to save 1% of Milo’s gross sales for the primary purpose of... Read more...
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