Flexible Budgeting Nurtures Your Business. Get Started With 4 Best Practices
In short:
- Static is out. Flexible, rolling budgets empower entrepreneurs to cope with change.
- This nimble planning process lets you adjust spending throughout the year; benefits include less overspending, more opportunities and speedier responses to changing market and business conditions.
- We provide example budgets, pros and cons and a guide to getting started.
After months of fan angst, Major League Baseball announced in July its plan to safely play a shortened 60-game season. It was a valiant effort, summed up in a detailed 101 page document optimistically titled, “The 2020 Operations Manual.”
About five hours before the Washington Nationals were to play the New York Yankees in the 2020 season opener, a Nats outfielder tested positive for COVID-19. And the hits — no pun intended — just kept coming. By mid-August, dozens of games had been canceled or postponed.
As Yogi Berra said, “The future ain’t what it used to be.”
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