Episode 13: Fixing the annual budget

 

The #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A and more

In Episode 12 of #ASKaCFO 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.   

 

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Whatever stage you’re at in business, you need to be all over the numbers. In posts like this, we aim to offer bite-size food for thought – but in a few hundred words, we can only do so much.
If you’re ready to build your financial muscle, how about a FREE copy of James Vanreusel’s (highly-acclaimed) book for CEOs?