When running a small business, a budget is a great tool to help manage expenses and forecast cash flow. Setting up a good budget can help make strategic financial decisions while minimizing the time you spend tracking expenses. Here are 5 tips to creating and managing an effective budget.
Use Your Accounting System – A great way to set up a budget is to align it with your accounting system. Your accounting system will have a chart of accounts that track different types of expenses based on accounting standards in your industry. Instead of coming up with new budget lines, use the same ones that are set up in the accounting system. When it comes to reconciling your budget, having the same accounts will save you time when mapping actual expenses to your budget. Bonus Tip: Some accounting systems have budget tools built into them, like QuickBooks. If you don’t need a customized budget, this is a great way to create a budget!
By Ann Martin | Harkcon's Vice President and Business Development Specialist
Determining whether or not to bid on a new opportunity is fairly complex. Most organizations require business development professionals to develop and document a Probability of Win (PWin) for each new opportunity being considered. As with all corporate activities – there is a budget line item for developing proposals and determining how to invest those dollars where they will result in the best return is important. One tool that can be used to help make the decision on spending money responding to a new opportunity is to calculate the PWin. There are many ways and elements that can be involved in calculating PWin. If you google PWin you will find a number of resources and opinions on how to calculate and the value of calculating PWin. However, from my experience calculating PWin is a valuable tool as long as it doesn’t get too complicated. The maximum value assigned to each item should be driven by...
ICS can be used during out of the ordinary incidents that may require a response; during critical incidents or disruptive events within your organization; and during pre-planned events that require an organized response from your organization. ICS can also be used during large incidents near your organization that will require a response from your organization and during incidents when you will provide logistical support to a larger organization.
So the big question is, “Where do you use ICS?” ICS can be used on critical incidents or disruptive events within your organization. ICS can essentially be used anywhere and anytime. To be successful, the key to remember is that ICS needs to be part of daily operations. ICS principles can be used when you have the need for a planned event or response, whether it is in response to an incident or a coordinated system of organizing business events.
The Incident Command System, or ICS, is a model that is used widely throughout the United States. ICS can be found in the National Response Framework and it is essentially the foundation to the National Incident Management System, or NIMS. The ICS is the Command and Control part of the NIMS plan. The National Incident Management System (NIMS) was devised as the ultimate model for how our country would respond to emergencies.
ICS is also listed in government directives, such as Homeland Security Presidential Directive 5 & 8 (HSPD-5 & 8). Primarily, ICS is the model tool for command, control, and coordination.
ICS was developed in the 1970s in response to a series of major wild fires in southern California. At that time, local, State and federal firefighting organizations decided that, due to the large loss of life, injuries and property loss, that there had to be a better way to fight these fires. ICS is a...