Beth and I have been meeting with all of our clients to get them started thinking about plans and goals for their businesses in 2011 and to get feedback on our performance in 2010.
Those who have meet with us have expressed the feeling of satisfaction that getting organized for the new year has given them. Those who have been working with us on their budget for 2011 have really been happy with the feeling of control having a budget and a plan has given them.
Budgeting can be a little tedious, but the results are well worth the efforts. We encourage our clients to use flexible budgeting which means when we compare budget to actual each month, we discuss whether the variations are controllable or whether the information or assumptions we used to create the budget may have been inaccurate.
Budgets help not only with controlling expenses, they also give a small business owner income goals to meet.
Start thinking about the New Year and let us know how your budgeting and goal setting is going!