STANDOUT agencies use a budget

It’s budget day today, but don’t worry I’m not doing it. I’m going to leave that to Jeremy Hunt.

I am here to remind you about another budget though, the one you should be setting for your agency at the start each year.

Many of you will be coming to the end of your financial year this month. You have 2 weeks to finalise your budget for next year.

– What revenue growth are you targeting?
– What new business do you need to achieve it?
– What costs are you expecting to incur over the next 12 months?

STANDOUT agencies always start their financial year with a BUDGET: What they want to happen.

They monitor their performance using a FORECAST(S): What they think will happen.

And they track their progress using a P&L: What has happened.

You can’t control what the Chancellor does. You can control what you do and these financial tools will help you.

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