Are you ready to write your new fiscal budget?
I’m going to suggest you take a couple of Aspirin now, because everyone except some of the most diehard accounting types out there get a headache even seeing the word budget.
A budget is one of the most important tools you have to help your company be successful. The very act of creating a budget makes you think through a variety of business issues helping you develop a plan that feels right and delivers the desired results.
Here are a few of the questions you should ask yourself when developing your budget:
– Evaluate last year’s performance; did you meet your goals?
– Did you complete and implement last year’s action plan?
– Have you identified trends for Cost of sales and overhead?
– Are any large asset expenditures expected/needed?
– Is staffing expected to decrease/increase?
– Are you planning for growth?
– Have you plotted your breakeven?
– Are you ready for your strategic planning session?
Budgeting doesn’t have to be a scary word; having a solid financial plan for the year assists you in preparing for any and all challenges in the year ahead.
At JCMH Consulting, we certainly know how to point you in the right direction in creating a sound and solid fiscal budget. Contact us we can help you develop that plan.
– Maureen Sheehy, JCMH Consulting