I don't need no stinkin' budgets...Do I?
Yes, the short answer is you need to have a budget. Ask yourself why every billion dollar operation spends man hours creating at least one each year. The reason is to plan for success. Think about it. When you purchased your first home or car or planned a special meal with your sweetie, you probably had to save for it. You may have looked at a calendar and planned out how long it would take you to save for what you wanted. It works the same way for your business.
Although most large companies start their budgeting process in late July or early August, you still have this month to complete your budget for 2010. Create a budget to plan your sales target for the year and the resources (i.e. cash requirements) it will take to reach your goal. Even if you fail to achieve your sales goal, you will probably exceed where you would have been without a budget.
Once your budget is complete, don't stick it in a drawer and forget about it. Use it to plan out how many calls you need to make to set appointments and how many appointments you historically close to be new clients. That type of information will help you schedule your month out for your needed time requirements.
So, take a page from the large companies playbook and plan for your success.
If you think this is a good idea but don't feel comfortable preparing a budget yourself then call us. We offer budgeting assistance. We are able to help you develop a budget and load your budget in a Quickbooks software package. Contact us for more information if you are interested.
Richard J. Garcia | 12/04/2009