Preparing your business's budget? Stop!!!
Let me make myself clear – budgets are essential to business. They set the finanical framework and goals for the nexy year.
The problem with them is that more often than not budgets are just a numbers game, prepared by the FD and CEO – we did so much last year, let’s do next year +X%. There is very little in the way of how this is going to be achieved, is it in line with long-term goals, and what does it require?
A proper budget will be the result of a robust plan, which is a subset of a multi-year process. Such a plan will include a detailed execution schedule that covers all the elements of the business that are relevant to the plan.
Want to learn more? See the first comment.
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