Published Articles
The 2009 Budget Slalom (in Business Vancouver Island)
January 11, 2009
Budgeting and cash flow management will take a slightly different tact in 2009 than it has in the last few years. In previous years, in a well-performing economy, budgets have been quite easy to set and follow. Based on the last few months of 2008 and the continued volatility that we have in the marketplace, I believe that 2009 budgets will need to be used more as a guideline. Successful implementation will require more management flexibility than in previous years.
Managers will need to set budget milestones and check those milestones against actual performance on a more regular basis. Based on whether revenue milestones have been met, managers will need to make adjustments in operations and perhaps approach those adjustments in rather creative ways. A bit more fleet of foot one might say.
I like to think of budgeting and managing for 2009 as a bit of a slalom event. I’m starting at the top of the hill in January with my eyes set on the bottom of the hill in December. Each of the gates I need to navigate through are my budget markers and my single focus is to get to the one in front of me. With a membership of over 1550, a history of hosting close to 100 events per year, and a staff of eleven there are certainly more than a few things to be keeping my management eye on. And clearly that is the case for any small business owner.
Going down that hill, if I get moving too fast I can easily miss the gate or plough right through it. How often can that happen without blowing the race altogether? I need to be very careful with my approach. If I miss my markers, I am going to need to either slow down or change my style to adjust to the course. I have to keep in mind that the point of the race is not only getting to the bottom quickly but also successfully navigating the gates so that I have enough points to still be in the game.
Full steam ahead in 2009 without paying attention to required adjustments in our new economic environment has the potential to leave some businesses in a heap at the bottom of the hill. Like slalom, we will need to review the course, adjust frequently, hit as many of the milestone markers as we can, and remain standing and strong at the end of it all. And for small business owners, that sort of multi-tasking and flexibility is likely a challenge that they will be up for.
Articles - 2010
Borrowing for the Bridge Our Best Option (in September Business Examiner) (August 30, 2010)
ADS is Positive for BC Tourism (in Business Vancouver Island) (August 11, 2010)
Regional Issues Require Regional Decision Making (in Business Examiner) (July 28, 2010)
Task Force Only a First Step (in Business Vancouver Island) (July 07, 2010)
Paying for the Bridge (in Business Examiner) (June 30, 2010)
Shoulder to Shoulder with Tourism (in Business Vancouver Island) (June 17, 2010)
What is the Cost of Not Building the Marina? (in Business Examiner) (June 01, 2010)
Business Vote is Complicated (in Business Vancouver Island) (May 17, 2010)
Keep an Eye on Tax Spending (in Business Vancouver Island) (April 08, 2010)
Calling for Police Amalgamation (in Business Examiner) (March 24, 2010)
Health, Police Connected (in Business Vancouver Island) (March 11, 2010)
Tourism Benefits of the Games Needing Our Support (in Business Examiner) (March 01, 2010)
Listen to the Tax Canary (in Business Vancovuer Island) (February 15, 2010)
Education and Sewage (in Times Colonist and Blackpress, Letters) (January 29, 2010)
Bay Street Bridge Closure a Wake Up Call (in Business Examiner) (January 27, 2010)
Improving Province's Productivity (in Business Vancouver Island) (January 15, 2010)
Stable Funding for Tourism an Urgent Need (in Business Examiner) (January 04, 2010)
Articles - 2009 
Municipalities Need to Tighten their Belts (December 10, 2009)
What About the Displaced Traffic? (in Business Examiner) (November 27, 2009)
The Local TV/Cable Battle (in Business Vancouver Island) (November 12, 2009)
Budgetary Mitigation Efforts for HST (in Business Examiner) (October 26, 2009)
Why we are Canada's Best Place to Live (in Outlook 2010 in the Times Colonist) (October 17, 2009)
Carving a Place on the Canadian Stage (in Business Vancouver Island) (October 07, 2009)
Budget Deficits and Health of the Community (in Business Examiner) (September 30, 2009)
Keeping the Lens on Crime and Public Safety (in Business Vancouver Island) (September 18, 2009)
HST from Three Perspectives (in Business Examiner) (August 28, 2009)
The Ups and Downs of Tourism (in Business Vancouver Island) (August 10, 2009)
Bar Watch Program Shows Results (August 06, 2009)
Experience Vancouver Island (in Business Vancouver Island) (July 08, 2009)
Dealing with Downtown Drunkeness (in Business Examiner) (July 06, 2009)
TV Playing Field Must be Even too (in Business Vancouver Island) (June 15, 2009)
Get Prolific Offenders Off the Street (in Business Examiner) (June 04, 2009)
Mico-firms in Need of Capital Too (in Business Vancouver Island) (May 11, 2009)
Small Business Realities on Raising Minimum Wage (in Business Examiner) (May 04, 2009)
Letter to the Editor - Johnson St. Bridge (April 22, 2009)
Changes Needed for Film Biz (in Business Vancouver Island) (April 08, 2009)
Keeping Tax Increases Sustainable (in Business Examiner) (April 06, 2009)
Keeping Cities Affordable (in Business Vancouver Island) (March 13, 2009)
Preserving Heritage at What Cost? (in Business Examiner) (March 02, 2009)
Deficit Budgets - Good? (in Business Vancouver Island) (February 11, 2009)
Getting Organized for Budget Investments (in Business Examiner) (January 19, 2009)
The 2009 Budget Slalom (in Business Vancouver Island) (January 11, 2009)
|
