355: How to Approach Corporate Budgeting, with Jody Wodrich
Coaching for Leaders
Dave Stachowiak
4.8 • 1.6K Ratings
🗓️ 11 June 2018
⏱️ 40 minutes
🧾️ Download transcript
Summary
Jody Wodrich: Corporate Budgeting
Jody Wodrich is an executive leader in Southern California and has served his organization for over 20 years. On this episode, he shares some of the key leadership skills and considerations when creating an organizational budget.
Key Points
- When budgeting, think about the big picture.
- Start off simple with the fixed and flexible expenses.
- Money is the foundation behind what you do, but people are the ones implementing them. Think about the people when making budgets.
- If you don’t budget your money, it will just seem to evaporate and you’ll have no idea where it went.
- Don’t just examine your budget once a year.
- Think about how closely you’re watching your money.
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Transcript
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| 0:00.0 | A lot of us are still working on our personal budgeting, much less how to put together a corporate budget. |
| 0:05.5 | So where do you start when you're asked to submit the budget for your team or department? |
| 0:10.5 | On this episode, the mindset and principles to successfully navigate corporate budgeting. |
| 0:16.0 | This is Coaching for Leaders episode 355. |
| 0:20.0 | Produced by Innovate Learning, Maximizing Human Potential. |
| 0:29.0 | Greetings to you from Orange County, California. |
| 0:32.0 | This is coaching for leaders and I'm your host, Dave Stahoviac. Leaders aren't born. They're made. And this weekly show gives you access to the practical wisdom that will empower you to become a better leader. |
| 0:46.0 | It was probably about a year ago that I was hosting a meetup here in Southern California and one of the |
| 0:52.4 | listeners who attended the meet-up said, |
| 0:54.8 | I would love to know more about how to create a corporate budget. |
| 1:00.8 | I just moved into a new position. I realized as I got into that position, I just didn't know how to create a budget. |
| 1:08.0 | And the folks in my organization came to me and said, hey, you got to create a budget and I didn't know where to start. |
| 1:13.7 | And as I started having that conversation with her, I realized how rarely it is that any of us |
| 1:20.7 | have had formal training on how to do this. Most of the time, the first time |
| 1:25.1 | we're asked to create a budget, we start, someone pulls up an Excel spreadsheet or |
| 1:30.5 | we look at the budget from last year and that's about the level of direction that a lot of us get the first time we do this. |
| 1:36.5 | And so today I'm really glad to be able to have a conversation with an experienced leader on how to create a corporate budget |
| 1:44.5 | and this will be helpful not only if you have done this many times before |
| 1:49.2 | but also be helpful to you if this is the very first time that you're tackling this. |
| 1:53.4 | And I'm thrilled to welcome to the show today. |
| 1:55.8 | Jody Wadrich. |
| 1:56.7 | Jody is an executive leader here in Southern California |
... |
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