Ask a CFO with James Vanreusel – What to Do When Your Q1 Budget Goes Awry
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In this Episode of Ask a CFO, James Vanreusel of Vanreusel Ventures discusses the topic of reforecasting and rebudgeting should you miss your budgets at the end of Q1.
You spend weeks carefully planning out your laser targeted metrics and Q1 is coming to a close, yet you know you’re not going to reach your goals. Going over budget can send a shock wave through the entire company. You have to explain the shortfall to stakeholders, the board, investors, and sometimes your employees. It’s a complete emotional drain.
Q1 sets the tone and rhythm for the year. If you have missed the mark and veered off the course –all is not lost.