Align Your Business Plan and Budget

Budgeting can be a daunting task, especially if you're not sure what you're going to do in the upcoming year.

But here's the thing: Budget time is actually the best time to craft at least an outline of your business plan for the following year.

Let me share why this approach is a game-changer.

A Clear Roadmap

Creating your budget and business plan together gives you a clear roadmap for the year ahead.

You're not just plugging in numbers; you're aligning your financial resources with your strategic goals.

Avoiding Placeholder Numbers

It's tempting to use placeholder numbers, especially if they're based on the current year's budget.

But be careful! This 'rinse and repeat' pattern can stifle creativity and growth.

It's like running in place instead of moving forward.

Let’s use subscription marketing as an example.

You historically spend $15,000 a year to sell subscriptions.

You also implement the same plan year after year.

You know there are some changes you’d like to make, but the budget is never available.

By creating your marketing plan for the year at the same time as creating the budget, you have the opportunity to ensure there are appropriate resources available.

The added benefit is you and your team are not left scrambling at the last minute to figure out the details.

They’re already laid out, at least enough to move forward.

And no more ‘rinse and repeat’ with declining results.

Unlocking Creativity

Building your budget and developing your annual business plan together creates a synergy that can propel your organization forward.

When you build your budget alongside your business plan, you open the door to creative solutions and innovative ideas.

You're not bound by the past; you're inspired by the future.

By creating your annual business plan in tandem with building your budget, you're not just crunching numbers.

You're crafting a vision and strategy that can lead your organization to new heights.