What Budget? How to Create a Budget You and Your Team Can Understand Like a Scoreboard
Description
Budgeting doesn't have to be a mystery—or a misery! On this episode of Roots of Success, host Kevin Keim sits down with Liz Helton and Steve Alley from McFarlin Stanford to walk through how budgeting can transform your landscaping business. The trio shares actionable strategies for starting a budget from scratch, using your company's historic data, and adapting budgets as realities change. They explain the differences between budgets and forecasts, why seasonality matters, and how to avoid common pitfalls (like not budgeting at all). You'll get inside tips on controlling costs, maximizing gross profit, and holding your team accountable—all with practical techniques you can use right away. If you've been putting off budgeting or want to help your business take the next step, this episode will provide good advice to get you started.
THE BIG IDEA:
You can only manage what you measure
KEY MOMENTS:
[03:35 ] "Budgeting Based on Historical Data"
[06:59 ] Seasonal Budgeting for Landscaping Businesses
[11:55 ] "Three-Way Budget Tool Overview"
[15:20 ] "QuickBooks Budgeting Benefits Explained"
[19:50 ] "Importance of Classifying Business Costs"
[21:08 ] Accurate Budgeting with Historical Data
[26:00 ] "Planning Revenue with Hour Metrics"
[29:29 ] "Focus on Major Cost Drivers"
[31:56 ] "Cutting Costs and Smart Spending"
[37:38 ] "Breaking Goals into Manageable Steps"
[41:33 ] "Communicate the Score: Are We Winning?"
QUESTIONS WE ANSWER
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Why is it important for businesses, especially in the landscaping industry, to create a budget before the year begins?
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What is the difference between a budget and a forecast in financial planning?
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How does historical data play a role when building an annual budget?
United States
