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Volume 25 |
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Why do we need one? How many times have we heard that we need a budget? How many times have we heard that we need to go through the process of budgeting? I’m afraid the answer to both is that we have heard these more times than we’d care to remember or admit. Then why haven’t we done that budget yet? Why don’t we “just do it”? Many of us think that it will be a painful experience or that it will make us confront the possibility (real or imagined) that there isn’t enough money to go around. Even the word “budget” has negative connotations. When a person replies “I’m on a budget” it implies that they cannot afford a certain item. Why do we refer to our lower price point frames as “budget”? There goes that negative connotation again. I would like to offer a more positive spin on the word budget that might help get us over the inertia and get us started budgeting. “Budget” is another way to refer to planned spending. True, this sometimes means that I have only planned to spend a certain amount on something and I don’t want to blow my budget by spending more. But sometimes it can be the opposite! Sometimes we plan to spend more on an item (or line item in the case of a business) and we have overestimated the cost. We may actually have more to spend on something that we originally thought we did. That can be a positive thing...
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July is Fireworks Sept 9-11 |
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This month, we ask three questions regarding practice budgeting.
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“The toughest thing about success is that you've got to keep on being a success.”
— Irving Berlin |
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iNEWS, published by Williams Group, is a free resource to members of the optometric community. You don't have to be a client to receive these valuable insights on the optometric market. |
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