I’m thankful it’s budgeting season!

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From the video...

It’s my favorite time of year. Yes, I love Thanksgiving, and I love budgeting. Hi, I’m Judi Otton with GrowthCast and yes, you might think I’m a little weird, but let me give you some thoughts and maybe you will hate budgeting a little bit less. First of all, let me tell you why. If you have a good budget in place, you can make better spending decisions, you can identify areas for improvement in your business and you are much much more likely to achieve your goals and plans. Now I want to give you some ideas on how to make budgeting, how to like budgeting a little bit more, like I do. First of all you need to have a positive mindset if you’ve come from a corporate role like I have, budgeting was tortuous and then they held us to it for the next year or maybe it was just passed down from on high and they still held you to it. It’s not like that in your own business. You are the master of your domain. This is planning, this is fun, This can be creative. What are we going to do next year? How are we going to make it happen? What kind of resources can we bring into play? So look at it as a fun planning exercise. Second of all, I want you to think about what’s changing. Certainly a lot has changed in the world and what you’re going to change in your business. You may be having labor issues. So you know, do you want a budget for more substantial raises for your people. I bet your raw materials are more expensive. You want to make sure that you include that in your budget But also what has been working for your business through this weird time? Are there things that you want to do more of that you need to include in your budget? Third, I want to encourage you to get input from your team. They’re going to have ideas, they’re going to have thoughts, they may have things that they wanted to send out to quote, fuel prices or insurances that they think that you can get a better deal on. So get their input, it will make it much easier to get their buy in and finally this budget that you’re creating now is not cast in stone, don’t be afraid to change it after it’s done. You’re going to learn more. Things are going to change. That’s just what happens. So change it when you need to. Review it regularly and use it as an important tool to steer your business. If you’d like my budget template, you can reach out to me in the comments wherever you’re seeing this video, give me your email and I am happy to share that with you free of charge. This is Judi Otton and with GrowthCast , enjoy your Thanksgiving and enjoy your budgeting

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