How does your 2017 budget look?

At this point every business should have two months of accurate financial results for 2017. Also everyone on the management team, whether there is one (sole proprietor) or a dozen should have reviewed and discussed the results. A part of that discussion should be “how are we doing compared to the budget we worked up?” The answer to this question at this point in the calendar year can have a big impact on how you finish out the year.

A word of encouragement at this point: if you have not done all of the above then get started as soon as you can. I have never seen a business that can be run to its full potential without some type of accurate and timely financial information. Unfortunately, I have seen a number of businesses, particularly smaller ones, that have no numbers to measure their success with. These folks choose to run their business by what I call the “seat of the pants method less numbers.” The point is that you can run a business without financial information but in doing so cannot know if you are achieving the best results from the assets you have.

There is a lot more to using your budget to maximize your business financial results. To learn more about “How does your 2017 budget look?” listen to The Weekly Business Hour broadcast this Monday March 13^th from 11:00am – 12:00pm on Lone Star Community Radio. You can listen live at www.irlonestar.com and FM 104.5 and FM 106.1 or you can tune into the podcast after Wednesday March 15^th by going to The Weekly Business Hour page on irlonestar.com or on Facebook to The Weekly Business Hour page: https://www.facebook.com/theweeklybusinesshour