Business Before Budget

Business owners need to focus attention on the business plan, rather than the budget alone, according to PSMJ Resources, Inc.

Here are some tips on streamlining your business plan and maintaining your bottom line:

1. The budget is the least important aspect of your business plan.
Focusing too intently on numbers makes it easy to forget the driving factors behind the numbers. Instead, create a plan of action for what you need to change the following year to acquire better results.

2. No sacred cows.
Get rid of non-performers. You can't afford to waste money on their salaries, and keeping them sends a negative message to your top performers.

3. Stop wasting valuable energy on declining markets.
Research markets before pursuing them. Different perceptions of markets and their business cycles can negatively impact your efforts if you aren't cautious.

4. Stop chasing non-quality clients.
Avoid wasting time chasing non-quality clients or clients you have little chance of winning and focus your time elsewhere.