Now that we’re a full month into 2019 already, it is an ideal time to take a critical look at your business processes and evaluate what is working well, and what isn’t. The budgeting process is one of the most critical, so it better be good! If you’re worried it…

Whether you are creating a budget for your small business or a large corporation, there are two main approaches: the top-down approach and the bottom-up approach. Some companies and their employees swear by the top-down approach, but others believe the bottom-up approach provides the most advantageous view. Which one do…

A balanced budget can mean several things. It can have the traditional meaning of balancing your expenses and income so that you do not run a deficit. But it can also mean balancing your time and business resources during the budgeting process. Your budget tells a story about your business…

You already know that you need to sell your products or services to your customers, but did you also know that you need to sell your budget to your team? As we wrote about last week, budget accountability is everyone’s responsibility. Good corporate governance depends on getting your team on…

Make Sure Your Strategic Planning and Budget are Aligned Every business needs a budget, right? But how do you know if your budget is right for your business? For most organizations, it is not enough to simply track all of its expenses and revenue. For your business budget (and your…

Running a not-for-profit organization can be very different from leading a business. While the two can share similarities, non-profits often have unique opportunities and challenges that corporate entities just don’t have to face. One of the areas that can be unique for not-for-profits is the budgeting process. Most, if not…

In non-profit management, a strong budgeting process is more important than ever. Making the most of your resources and planning strategically can help guide your organization and allow you to do more good. The budgeting process for a not-for-profit can look similar to a for-profit business, but there are some…

Your business’s IT infrastructure lays the foundation for innovation. Creating a strong IT strategy is even more important for growth, especially as we see new software and technology emerge on what seems like a daily basis. Part of building a solid IT strategy is, of course, budgeting. New technology can…

When an organization grows, the planning, budgeting and forecasting process naturally becomes more complex. More active participants and more data can lead to increased opportunities for issues. When this occurs, there is much more at risk and at the same time, you’ve got more riding on getting the business plans…

Last week we dove into the advantages of collaboration when budgeting, and it got us thinking: if you’re going to share the love and spread the budgeting cheer by getting your managers involved in the budgeting process, you want to make it as easy as possible, right? The clearer the…