To build a great financial plan you need a great process. And you need to think differently.
The traditional budgeting approach just doesn’t work any longer.
Business moves too fast and you need a budget process that will adapt and update in real time.
Here are 5 Ideas and 3 Questions you can use to build a better budget: Engage your team, set regular financial meetings, try a ‘work shopper’ approach, use decision models and ask better questions.
5 Ideas to Build a Better Budget
- High involvement planning (inclusion)
- Book recommendation: Great Game of Business
- Weekly huddles (execution)
- Book recommendation: Open Book Experience
- Workshop (creativity)
- Book recommendation: Work shopper Playbook
- 50 Strategic models (decisions)
- Book recommendation: The Decision Book
- Ask better questions (better answers)
- Book recommendation: Coaching Habit and Book of Beautiful Questions
3 Questions to Build a Better Budget
- New Perspective Question: “If we got kicked out, and a new CEO came in, what would they do?”
- Remove Constraints Question: “What would this look like if it were easy?”
- One Thing Question: “What is the one thing I can do that would make everything else easier or unnecessary?”
Do This Next:
- Watch the short video below: How to Budget Differently
- Join our network of wholesaler owners and managers
