Budgets, budgeting and variances: Controlling your business
There are two approaches to this topic depending on the type of business.
For professional services and consultancies we would present a course centred around our budgeting training software. This enables participants to create and critically appraise a budget.
The day covers :
Return on Costs: Not just a number but a measure of value created.
The Budgeting Process: The cycle from revenue estimates, to headcount, occupancy, other direct costs and understanding the role of central costs.
Clever Budgeting: Using key performance measures with budgets.
Variances, your firm and the business environment: Not an excuse to be hit with a baseball bat! But a process for understanding your business, its model and the environment you are working in.
Cash Flow: And why its not obvious! Looking at the work, invoicing and collection cycle and its impact on the business. Considering the fact that your main suppliers, the staff and landlords, give no credit.
Pricing for Value: And the day comes full circle. We explore the ideas of pricing with regard to the perceived quality and benefit experienced by your clients.
For other types of business we would recommend tackling the above issues in the context of our business simulation, the Board Game (see the menu to the left for a link).