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Why Budgets are Bad for Business

This article also appeared in Finweek Magazine in their 16-Aug-2012 issue

In my previous life in corporate, one of the biggest time-wasters was the budgeting process. We would write off three months preparing budgets for the next year. Invariably we tweaked last year’s numbers, added some inflation and extra for contingency, and there you had the new spend which you had to defend.

Why is this exercise destructive for your business?

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