LESSON 21: Your budget is your step-by-step blueprint t Articles

LESSON 21: Your budget is your step-by-step blueprint to success. Here’s how you use it

 We have discussed in descriptive terms how you come up with a budget. A budget is simply a well thought through plan to which you have committed. While using your planning model to experiment and to expand your vision is invaluable, do not confuse that process with the later, more definite phase of planning, which […]

21.1 The four reasons why budgets are indispensable to your business success

 The first reason for setting a budget is to ensure that your business is capable of, and then actually does, lead you to the life you want, and not to some lesser place. When your intended steps are laid down and expressed in money in the form of a budget, it proves before you set […]

21.2 Budgets are invaluable tools for small businesses and large alike

 For the reasons described above, a budget is a vital tool for your success. It is often believed that a budget is not useful for a small or very small business, on the grounds that these businesses are simple. It is true that the complexity of large organisations makes it almost impossible for them to […]

21.3 Endeavour to stick to your budget once set, but never let it become a straight-jacket

 It is important that you stick as closely as you can to the action plan you have devised. There is little point in plotting one course and then veering off down another one. That would be like the captain of a cruise ship setting sail for South Africa but after two weeks finding he was […]

21.4 Key points

  Your budget is the practical series of steps you will take with your business to move you from where you are now to where you want to be in life. Your budget provides proof, verification, in advance that your intended actions will take you closer to where you want to go, and not to […]