Budgets are good but Forecasts are better

Let’s get ready to burn the heretic at the stake.

Throughout my corporate career I did the Strategic Plan before Easter, the Business Plan before May, and the Budget by early June so that the entire process could be signed off in readiness for the new year starting in July. No heresy so far.

So what does the heretic believe? A Budget is someone’s best guess at a point in time.’ Whilst my salary outcome was based on delivering, or bettering, the Budget, it was the Forecast that mattered and here’s why.

Whilst Budgets serve as a roadmap, guiding your financial journey if you are deviating from your budget then you need to put in place plans that bring you back on target: this is what Forecasting is all about.

Want to know more about my process send me a DM.

#FinancialStrategy #SmallBusinessSuccess #BudgetingWisdom #StratPro