Why Leaders Need A BUDGET

By Richard Brody

One of the most challenging aspect, of, becoming a quality, relevant, effective, sustainable leader, is to realistically recognize, understand, and properly address, the specific financial needs, priorities, and challenges, of the specific organization, in a responsible manner! A key challenge and/ or obstacle to this, is being able to take raw data, and use it, in an orderly, relevant, manner, so the organization, will grow responsibly, and enjoy the best possible, foreseeable, sustainable future. In order to achieve this necessary objective, leaders must understand, as much about financial reality, and budgeting, as it relates to the group, and, thus, only when a true, realistic BUDGET, is created, and utilized, do groups benefit. With that in mind, this article will attempt to review and consider some of these ingredients, using the mnemonic approach.

1. Basis; basics; benefits: Will you understand, the necessary, basis of your budget, and whether, it realistically considers, and addresses, the needs, goals, objectives, and priorities, of the organization, in order to achieve the best possible results? Until you master the basics of doing so, your organization will be challenged, to enjoy the benefits, it should be receiving and distributing!

2. Useful; usable; urgent: Budgets must be useful to the group, in order to effectively plan, in the best way, for a relevant, sustainable future! How will your information be meaningful, and usable, prioritizing the most urgent matters, and focusing on making the organization, the best, it might possibly be?

3. Delve deeply; deliver: Go beyond simplistic, surface issues, and delve deeply, into doing what's best, rather than merely easiest, or the path - of - least resistance! Using and considering as many financial implications and potential ramifications, as possible, positions a leader, to under - promise, and consistently, over - deliver!

4. Generate goodwill; growth: When finances are handled properly, groups become capable of focusing on generating goodwill, and seeking the necessary degree of growth, which makes a difference, for the better! Far too often, pseudo - leaders pay too much attention to current obstacles, considering them urgent problems, rather than challenges, to overcome!

5. Empathy; emphasis; energies: There is often, a fine - line, between responsible financial behavior, and ignoring the needs, goals, priorities and perceptions, of constituents. When a leader commits to effectively listening, and learning from every conversation and experience, he proceeds with the degree of genuine empathy, which permits him, to create a budget, with the proper emphasis! This process tells a leader, where to place his energies.

6. Timeline; timely: When a leader creates a responsible, responsive timeline, focused on worthwhile objectives, he proceeds, in a well - considered, timely manner!

If you want to lead, understand how a BUDGET, might make you, a better leader! Will you commit to the process?

Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, consulted to thousands of leaders, and conducted personal development seminars, for 4 decades. Rich has written three books and thousands of articles. His company, PLAN2LEAD, LLC has an informative website http://plan2lead.net and Plan2lead can also be followed on Facebook http://facebook.com/Plan2lead