Business Budgeting

Let’s face it; very few people likes the “b” word.  In our society, most people want to throw up when they hear the word "budget" as it has become associated with being restricted.  The truth is, a budget, or what we like to call an intention map, when used properly is empowering. Successful people know that they are responsible for creating their future. Think of your budget as the road map you use to create (forecast) the direction you want your business to go.  The tools you will use are an Income Statement, Balance Sheet and Cash Flow Statement. We can teach you how to use these tools, or we can do it for you.

A great forecast will include the following 6 elements:

1) Intention – Your vision, which has the power to transform your business.  

2) Attention – These are your actions. You create goals to reach your vision. Your actions energize your business and keep things moving forward.

3) Alignment – When your intention and your actions are aligned with your Vision, you get into the flow and your work becomes not only easier, but more effective.

4) Accountability – A regular process to see how well you are meeting your goals.

5) Tweak – You tweak your actions to reflect what is working and what isn’t.

6) Repeat 

Once the Budget/Forecast has been established we typically meet with out clients at least monthly to review, tweak and revise the forecast as we get better information.  It is an excellent way to minimize surprises and reduce risk.  Plus, it’s fun!  One of my favorite things is when clients who have had number phobia say they now find working with their numbers fun. Trust me, it does happen!

If this is an area where your business could use some attention, give us a call at 440-289-8321 today. We will schedule a free 30 minute phone conference to get to know more about you and your business.