After nearly 50 years of experience in manufacturing-sector SMBs in Quebec, I’ve found that roughly 80% of business leaders whose sales vary between 3 and 15 million dollars manage without a budget.

However, when you require funding and need to apply for financing from financial institutions, you need to prepare your budgets! Why do financial institutions ask you for a presentation document accompanied by budget forecasts? Because they must ensure that:

• Owners know where they are going and that they control company operations;
• Funding requests are justified and sufficient;
• Future operations will be profitable;
• Owners have management tools to act quickly based on changing circumstances;

These funding requirements prove the importance of having an established budget that is monitored monthly to better manage your business. Your budget is your best perspective of the strategic orientation of your company. With it, you can:

• Make quick decisions and take corrective action, if necessary;
• Make sector managers accountable;
• Evaluate the company’s performance and establish monthly KPI monitoring;
• Better control your liquidity;
• Better manage all of your operations;
• Gain peace of mind, for yourself, the owner!

So never lose sight of your goal. What worries owners is not the obstacles to overcome, but what path to take to get where they want to go.

Our experience has shown us that managers who use budgets are more profitable and grow faster. Are you ready to be as efficient?

Book your FREE private consultation now and discover how CMG International will lead you to build a whole new world of possibilities and opportunities. Until next time!

Richard Rousseau MBA

Founder | CMG International Inc.