By Tim Moore, EO Houston member and managing partner, TR Moore & Company, a Doeren Mayhew Firm
In my work as an accountant and business advisor, I find that the idea of working to a budget is foreign to the owners of many small and mid-sized businesses. Maybe they’ll need to develop one when their business grows, but meanwhile it’s altogether too time-consuming and would keep them away from the “real” work.
That thinking may need a little revision. The fact is, businesses that don’t operate to a budget are unlikely to grow, and if they do, they risk losing some control over growth-related fixed costs.