It’s a simple concept: either the company makes money or goes out of business. This is even true for charities and the government! This is very often overlooked because the ways you run a profitable business, a charity, or a country are different. Nonetheless they all have to make sure of the needed funding and encourage the customers/donors/citizens to buy them.

Is making money important for your business?

Are you making money?

Pressing the Budget Too Tight

    When you begin with unrealistic budget goals, chaos is bound to set in. Departments fall behind, resources are slow to arrive, and ultimately missions run off the road. The easiest way to avoid having this happen is to create an accurate budget. That means outlining ways to implement better upfront resource planning.

    Let me add that it’s wrong to meet cost savings with potentially punitive measures. What I mean is the old adage “If you don’t spend your whole budget this year, you’ll get less next year” mindset. If a department has saved money and come in under budget, why not consider giving part of those savings back in the form of bonuses? The upfront cost will be offset by higher productivity, and more cost conscious employees.

Do you have a budget?

Do you review it constantly?

Are employees cost conscious?

Tags: budget budget goals chaos charities charity citizens conscious employees donors making money mindset missions old adage productivity profitable business punitive measures resource planning upfront