After, more than four decades, of involvement, in nearly, every aspect of leadership planning, training, developing, and consulting, as well as decades of involvement in the financial industry, I have come to believe, we pay far too little attention / emphasis, on the value of a budget, and this is, often, a costly error! Both in our personal lives, as well as, when it relates to making one's organization, better, more efficient, less wasteful, more focused, and able to get, more, bang, for – the – buck, understanding, focusing on, believing in the value, and creating the best plan, requires effective, successful, relevant, BUDGETING. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means, and why it matters.
1. Benefits: Proceed, focused on benefits, value, and according with the values and philosophy, perceptions, needs, and matters, of the organization, andalands! When, we focus on how something, might be beneficial, and prepare our funding, using an open – mind, and considering options and alternatives, everyone benefits!
2. Uses: What do you want to achieve, and why? What are the main uses, and / or, purposes, of your approach? Is there any better way, of proceeding? How will you pay, the costs, of any possibilities?
3. Delve deeply: Go beyond the surface, and delve deeply, into the choices, options and alternatives, in order, to make the wisest, possible decisions, etc. There are generally choices, to be made, so fully consider, the risks / rewards, of your approach, and whether, it is your best option!
4. Generate goodwill; growth: If leaders fail to generate goodwill, the group, generally, cannot be relevant, or sustainable! When a budget is the beginning step, in effective planning, you will be more likely to institute, smart growth!
5. Empathy; emphasis; excellence: Listen effectively, and learn from every conversation and experience, so you might use genuine empathy, in your budgeting process! This should indicate where to place your emphasis, with a stress on excellence!
6. Trends; timely: Instead of, merely, the, same – old, same – old, consider current trends, and whether, they make sense, for you! Then, consider, thoroughly, and proceed, in a well – considered, timely, well – planned, manner!
7. Ideas; innovate: Quality budgets should be based on meaningful ideas, which emphasize, innovative measures, to make a group better, and more effective / efficient!
8. Needs: What good is budgeting, unless / until, it addresses primary needs, goals, and matters?
9. Goals – oriented: When a leader is goals – oriented, rather than unprepared, he becomes better able, to introduce, the best, most relevant budget, for his organization!
Successful, effective BUDGETING makes a group, better, and more prepared! If you are a leader, take the process, seriously, and proceed, wisely!