How to find your budget blindspots

One tip: Be aware of “budget band-aids”

What are budget band-aids?

Budget band-aids are like red flags. They are used by your people to cover up financial “sore-spots”. As well as financial “blind-spots”.

Working with operational leaders and their teams, I have seen five common budget band-aids used across a wide range of organisations and industries.

Over the next five newsletters I will be sharing my experiences with you.

Budget band-aids

• What are they?

• How do you know your people are using them?

• What can you do to remove them?

Budget band-aids prevent your people from managing their budgets. In this current environment of rising costs, they are a risk to your business

In this current economic environment, cost control will become the #1 priority for CFOs.

One sporting stat

On January 16, 1988, Tina Turner broke the world record for the largest paying audience at a solo concert with a crowd over 180,000 people at the Maracana soccer stadium in Rio de Janeiro, Brazil.

This venue also holds the world record for the largest attendance at a soccer match, when 173,850 spectators crammed in to watch Brazil take on Uruguay in the 1950 World Cup final. A lot of them left in tears that day as Brazil lost 2-1.