As we head into the end of one financial year and into the next, I want to share with you common mistakes I see businesses make when doing their annual budget planning. 

As you put together your new annual budget, I want you to consider how you’ve been using your budget in the past. Have you been rigid and following your budget as if it’s law? Or can you find some room for flexibility as you sit down to your annual budget preparation? This is just one of the mistakes I see in business annual budget planning.

Budgeting mistakes have very little to do with the numbers themselves and everything to do with your approach to budgeting and forecasting. Your business budget is much like anything else in your business - open to improvement and change where necessary.

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