Four Ways to Build Better Budgets – HBR

Actually, unless you are a brand new startup, budgeting and planning for future is well under way for 2013.   If you haven’t started or need some help, this is a good points article.

Excerpt:  It’s that time of year again: Budgeting and planning for next year are in full swing. Everyone has been through this process. At one end of the spectrum is the struggling business unit that unveils the miraculous “hockey stick” trajectory their sales and profits are just about to take…again. (Don’t bet on it.) At the other end are high-performing business units that are starved of the resources they need in order to fund growth because they are subsidizing another business unit’s hockey stick.

Through hundreds of sessions like these across dozens of industries, we’ve identified four best practices to make your budgeting and planning process much more effective and less dependent on illusory projections.

Read full article via Four Ways to Build Better Budgets – Jason Green – Harvard Business Review.

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