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Tuesday, July 31, 2012
July 31, 2012
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Yesterday, we started with some hopefully helpful tips to get you through budget season.
Today, we focus on expenses.- Set aside three hours where you won't be interrupted with your business manager
- Go through every single line item and ask lots of questions
- Classify each line item three ways for 2013 budget
- Increase (how much)
- Static (continuing at same level)
- Decrease (possible deduction or cut)
- Estimate new totals and get a rough cut of expense line totals
- Examine operational efficiencies that you can create to cut expense
- Review every single contract you have:
- Vendors: everything from cleaning to power
- Talent: know when every contract comes up and what is likely outcome of negotiations
- Barter: if you are like us, that hits our expense line. What do you really need in 2013
- Examine promotion (both sales and programming) and research
- What do you really, REALLY, need?
Tomorrow, we'll look at budget planning….
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