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Does your business have a budget? If it doesn't, are you guilty of saying "I can't predict the future," "Things change too quickly," "We aren't big enough," or "I don't have the time?" After all, isn't a budget really an assessment of the future?


Details may appear overwhelming. Uncertainty may impede willingness. But, "if we do what we've always done aren't we going to get what we've always gotten?"


Keep it simple. Identify key performance measures – sales, key customers, product cost, payroll cost. Concentrate on just those. You know your business – talk about where you see it going. Use a narrative if numbers are overwhelming. Turn it over to someone with spreadsheet skills to draft – your CPA, controller, bookkeeper or assistant. Get a first draft to shoot at.


Your employees want to see what the future holds. They want to know how to best direct their efforts. They want goals to target. Your CPA wants to plan for you. You want to build your financial future. You want to direct effort and make it count.


And hey, wouldn't you like to see your tax return draft the first day of the new year instead of April 15? If you're ready to build a budget, contact your Rea advisor.


-By Lee Beall, CPA (Dublin office)


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