The Biggest Falsehood Stated By Business Owners
Edwin Dearborn
One of the biggest falsehoods which business owners claim is, “It’s not in the budget" or "That's way over budget."
The fact is this: they have no budget established. A written, proven budget-policy which is used as a tool for expansion and survival. Stating that there is a "lack of money" is a popular reason which becomes a self-fulfilling brand killer.
You need to establish a written, strategic budget which allows you to HAVE vs NOT HAVE. Without money being spent on marketing, advertising, and sales material, your KPI's and viability will suffer.
Genuine budgets are about GROWTH, not STAGNATION. Survival, not barely holding on.
What Is A Budget?
“An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals. One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.” - BusinessDictionary.com
"A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms." - Wikipedia
Budgets Are About Achievement, Not Stagnation
Look at some of the positive words in the two above definitions:
- Resources
- Future
- Goals
- Tools
- Serves
- Plan
- Action
- Objectives
- Performance
- Sales
- Assets
- Cash Flows
- Strategic
- Activities
"
More articles by Edwin
Your Cornerstone to Financial Sovereignty
I want to share with you a common theme that keeps appearing, one about Financial Sovereignty. Since the chaos of Covid19 hit in early March of 2020, I have been on a quest to rebuild my business mode...
Expand Your LinkedIn Connections by 5,000 to 10,000 Professionals Per Year
More than 30 million companies use LinkedIn for business. I can say with 100% certainty that your next best client is somewhere on LinkedIn! Because you are allowed to connect with up to 30,000 people...
How Your Brand’s Marketing Has Been Socially Distancing Real People For Years
With technology comes automation and an efficiency of your effort. Often with automation and efficiency, our finger comes off the pulse of what is occurring and then we develop an unfortunate disconne...