Budget Re-do

One of the best things to make sure your values align with your budget is to do a bit of post show/event evaluation.

Here's what I mean:  Take a copy of a budget for a recent show and pretend you are building it from scratch.  Given what you know now, what would you have done differently?

Would have spent more in one area?  Less in another?

Would you have spent money on an entirely different area that you didn't even consider before?  Did money spent on some area go to waste?

All too often we move on to the next thing/show/event a little bit too quickly.  Pull out some old budgets, take a step back and see if what you have done before makes sense with your long term goals.

 

 

 

Comments

[Melissa F. Moschitto]

Adam - thank you for this post. I have to admit that after your previous post - "Budget Values" - I was a bit flummoxed and frustrated. OF COURSE I would like to pay my actors (and I DO, but I want to pay them MORE). OF COURSE I would like to be able to afford professional videography of every production (I learned this the hard way - we have terrible footage of our last show). But the fact remains that some line items take up a HUGE percentage of our budget (e.g. space rental) and that is, sadly, non-negotiable. Nonetheless, I think that the suggestion you've made of a way to analyze a budget and the results is a really excellent one. Keep it coming!

[Amy]

Adam -I agree with Melissa; this is a great post. As a marketer I can get into a rut of always doing the same thing. Would you be willing to share an example or two of changes you would have made?