Ask most people why the don’t do an annual budget for their business (and most small business owners don’t) and the answer is likely to be ‘I don’t have time’. In the seminar we started by inquiring whether that was really true. Is it really true we can’t carve out the day or two in the year it might take to do a really thorough budget, or is something more powerful and subtle at play? Could it be, for instance, that not having a budget allows us avoid facing up to what doesn’t work in our business? Does it allow us carry on doing things the way we like without challenging them? Does it save us from the hard work of thinking things through?
On the other hand we explored what a budget can produce: avoiding business threats, spotting business opportunities, control, release from worry, happiness and dare we say it, excitement at what is possible.
The seminar went on to take attendees through a 12 step process of building a budget starting from Strategic Objectives. We considered a radical approach to budgeting building from business drivers and isolating assumptions to be tracked and monitored. Finally we considered some of the pitfalls of budgets.
In summary it became clear that budgeting is one of the few times that we get to play the role of entrepreneur in our business.
Standards have risen high in the feedback we have been getting and this seminar did not fall short. On average attendees rated it 9/10 for overall value. The following is a selection of written comments:
“This was realloy useful, well structured adn pitched about right for a non-accountant audience. I’ll be looking at my budget – now set in a new light.”
“Excellent – as always very practical advice. Lots of things to take away and implement.”
“”Really informative, presented in a great unstuffy manner. Would come again.”