Rethinking The Budget

budget-imageOne of the areas where we’ve seen some interesting innovation recently relates to budgets. While they’re smaller, they’re still there. Companies, ours included, need to sell things, help others, and generate revenue to survive.

For many years, for many firms, the concept of managing the annual budget has been built around growing bigger. Now, CFOs and department heads are just trying to stop the black ink from turning red. Some simple rethinking can help companies make decisions related to forward growth and improved business development.

Here are some of the things we’re doing: We’re having more conference calls, and traveling less. We’re sharing files electronically and editing them collaboratively. We’re using Web 2.0 tools more than ever, including web-based project management, sales development, and even budgeting.

We’re working from home more, too. While it’s very important to see your team face-to-face, it’s equally important to maximize expenses. If we allow our team and others to work from home two days a week, everyone saves money on fuel, on wear and tear to their vehicles, and even potentially on food (if you eat at home!).

We’re working harder, I think. We all are. But we’re also maximizing how we spend money, so we have some to promote and grow our firms, and those of our clients.

Companies still need to communicate via the web – perhaps now more than ever. Video is still an important communications tool. By rethinking how our team performs, we can help our clients save money, too.

Comments are closed.