Founder Foundations Mini-Series: BUDGET SYSTEMIZATION 101 | Steve Simonson
Update: 2022-12-20
Description
Budget Systemization - What is it?
In this episode, Steve talks about a very "sexy" topic. We often discuss budgeting in our firm, and I often write about budgeting because it is such an important topic in any company.
Good news: Valuable strategic element of the business
bad News: IT TAKES WORK
Having a budget will help you manage your business and will help you remove the day-to-day "tasks" on your plate and to create a successful budget, every Founder/Leader or business owner needs to:
- Establish Strategic Objective that gives you your roadmap - knowing the revenue and the associated overhead expenses.
- Set goals and objectives that push for growth and efficiency, but keep those goals and objectives realistic. There is nothing more demoralizing than to have an unachievable goal.
- Start your budget planning process early. For a calendar with year end at December, start no later than August of the current year.
- Measure your actual results every month versus budget, and hold people accountable.
Ready to learn about Budget Systemization? Let's go!
For more Awesomers podcast episode, click https://awesomers.com/podcast
If you have not subscribed to the Awesomers YouTube channel yet, press that SUBSCRIBE button
https://www.youtube.com/@awesomers
If you are also on SoundCloud, follow Awesomers SoundCloud by pressing that FOLLOW button https://soundcloud.com/awesomerspodcast
In this episode, Steve talks about a very "sexy" topic. We often discuss budgeting in our firm, and I often write about budgeting because it is such an important topic in any company.
Good news: Valuable strategic element of the business
bad News: IT TAKES WORK
Having a budget will help you manage your business and will help you remove the day-to-day "tasks" on your plate and to create a successful budget, every Founder/Leader or business owner needs to:
- Establish Strategic Objective that gives you your roadmap - knowing the revenue and the associated overhead expenses.
- Set goals and objectives that push for growth and efficiency, but keep those goals and objectives realistic. There is nothing more demoralizing than to have an unachievable goal.
- Start your budget planning process early. For a calendar with year end at December, start no later than August of the current year.
- Measure your actual results every month versus budget, and hold people accountable.
Ready to learn about Budget Systemization? Let's go!
For more Awesomers podcast episode, click https://awesomers.com/podcast
If you have not subscribed to the Awesomers YouTube channel yet, press that SUBSCRIBE button
https://www.youtube.com/@awesomers
If you are also on SoundCloud, follow Awesomers SoundCloud by pressing that FOLLOW button https://soundcloud.com/awesomerspodcast
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