yield

Budgeting

Budgeting

It is that wonderful time of year when many are going through the annual budgeting process. Looking at past performances and trying to forecast what the coming year may look like. Being a business owner and also sitting on the finance committee of 2 nonprofits I get a triple dose of this every year. The thing that I have noticed is the similarities among all three. We are all looking at past performances, projecting into the coming year, and attempting to forecast what the results could be. In doing this exercise we make decisions in an effort to carry our mission forward. And during this entire process we are constantly focused at the bottom line. And the whole process is a forecast (goal), not an exact number. We can only control what is within our own organizations and that which is closely aligned with our organizations.  This year I have decided to do this exercise looking at it in a different manner. I want to identify the performance drivers and enhance them to yield better outcomes. I am also moving away from the once a year mentality to a perpetual budgeting process. The key change in my approach will be using root cause analysis instead of treating symptoms. Another item of change this year will be inviting in my vendors in and having a conversation on how we achieve better results. And I don’t mean a conversation with a whip and chair beating them down. I want them to understand my goals and to look for ways I can help them meet their goals.   I want to have that conversation with you and would welcome the opportunity to meet with you personally. Give me a call today and let’s set up an appointment. And any true partner should be willing to bring value add to the table…that has always been my philosophy.   Linked Here is an article that provides other budgeting points you may find helpful.   Charles...

Read More

Budgeting for the New Year

Budgeting for the New Year

It is that time of year when many are going through the annual budgeting process. Looking at past performances and trying to forecast what the coming year may look like. And during this, we are constantly looking at the bottom line. I wonder how many have considered looking at this process in a different manner. Rather than budgeting to the financial line item, make it actionable. Identifying the performance drivers and how to enhance them will yield better outcomes. How about inviting in the vendor and having a conversation on how to work together for improvement. There are many ways to make improvements without sacrificing service and quality. And any true partner should be willing to bring value add to their client. Linked Here is an article that provides other good budgeting points. And maybe, as the article suggests, move toward a perpetual budgeting process… lots to consider. I would welcome the opportunity to meet with you personally and have that conversation. Call me and let’s set up a meeting. Charles Wilkerson...

Read More
Scroll Up
Visit Us On FacebookVisit Us On TwitterVisit Us On LinkedinVisit Us On PinterestCheck Our Feed