Gregory ShepardArchitect, GregoryShepard.com · GregoryShepard.com · The Startup Architect | Author of The Startup Lifecycle

My Top Tip While Creating the Budget for Your Business! | Gregory Shepard | Minute Mentor

25 Jun 2021 · 1 min

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Gregory Shepard explains how to build a business budget by organizing costs into functional areas like sales and marketing. Include plan, actual, best, and worst case scenarios so leaders can track whether they're hitting targets.

This is a pretty quick one, but I think it's really important. When you look at doing your budgets, you always want to have a cost of. So a cost of functional areas, so a cost of sales and marketing, a cost of product and engineering, and so on and so forth. And you want to make sure that that's in a budget, and again, that you have plan, actual, better, and worse, so that you can see if you're on target, off target, how much you're on or off target, and make sure that your functional area leaders are sticking to the plan.