Our clients know they need to create a budget, but actually doing so can be very difficult - even painful - for them.
Most business owners would happily delegate the onerous task of budgeting to their accountant or bookkeeper as they are uniquely positioned to help create sound budgets. We are familiar enough with our clients’ businesses to help identify areas where they are being unreasonable with their projections and detached enough to see their blind spots.
However, if our clients are to adhere to their budgets, they must be involved in the process. We may not be able to convince our clients creating a budget is actually enjoyable, but we can help make the process much less painless for them.
The “Budgeting is Painful” Mindset
Many business owners think of budgeting in negative terms. It’s going to be hard. They might have to give up some things they want or have convinced themselves they need. Maybe they feel fear about being able to stick to a budget, or maybe their fear is they will stick to it for a while, and then relapse.