How many times have you backed out of your driveway without your seat belt on only to strap in as you drive? Have you started a campaign, a business, a new phase in your life without your budget and then tried to shore it up later? Any seasoned business owner has moved forward without a plan--the quick learners figure out that doesn't work so well--the more they do it, the less cash they have for their next project.

Seat belts and budgets were both designed to restrain the driver. In the case of a seatbelt, it keeps the riders alive. In the case of a budget, it keeps the business alive and growing. Both are optimally done prior to starting.

Budgeting doesn't have to be a downer. The connotation for many is "what a drag!" The budgeting process is first and foremost a time to dream--your dreams--in detail. You almost see them coming true while you are building it. It is a time to sculpt your products and ideas: define exactly what you will sell this year, how much time you will put into them, where your team will do business, and how you will fulfill the products you are selling.  It's a time to pencil out the detail of how you will spend your technology or marketing dollars.

Keep the following in your pocket when you set off to create your budget:

1. Realism. Either you put on your realistic hat, or you find a partner who can check your sanity.
2. Tabulating tool: Whiteboard and calculator, paper/pen, or Excel. Don’t let the tool trip you up. If you don’t know Excel, then use what you know.
3. Assumptions. Write down your assumptions. For example, rather than dropping in a line item of Telephone $500. Detail out what makes up $500: Land lines $300, Cell $150, Wifi: $50. When you make revisions at the quarter or next year, you won’t have to wonder. Without this essential piece, your budget is really only half built.
4. Detailed spending report. Again, if you don’t have a report, bring your paid bills, estimates, and bank statements.
5. Time report. Measuring your time is at least as important—if not more—as measuring your money. Understanding how much each task takes will help you arrive at your staffing levels.
6. Help. If you are new to budgeting, Excel, or just have a hard time processing it alone, get help. You can turn to your spouse, your friend, your family, a mentor, or hire help.

I’ve yet to create the every-time habit of buckling in before I put my car in reverse, but I can say that I look forward to budgeting and earnestly planning before I make a move. It's never too late to learn this essential business success skill, and I happen to know some people to help you get started today.