Own Your Budget – The April reset

And the importance of understanding what has changed.

For the majority of budget owners in an organisation, April is the month to reset.

If your financial year started on January 1, you have just completed the first 3 months of the budget year.

Research conducted by the Wall Street Journal found that 60% of companies reported that their annual budget targets became obsolete after the first 3 months.

If you are not resetting your annual budget now, you will be trying to explain performance against targets which are no longer relevant. This will become a distraction for you and your team.

“I missed last month’s update. Can you remind me why you are so far off your budget this year?”

You need to remove the noise. So that you can focus on making decisions in real time. Using real time data.

You can’t reset unless you have an understanding of what your budget is about.

Own your budget so it doesn’t own you.

PS: Are you ready to start understanding what your budget is about? Let’s have a chat

One sporting stat

Scottie Scheffler won the US Masters Golf tournament at Augusta last weekend. It was Scottie’s second win at Augusta. His first win was in 2022 at his third attempt. The average attempts before fist victory at the US Masters is 6.3

The highest number of attempts belongs to Sergio Garcia. He won in 2017 at his 19th attempt.