How to make budget month by month | radioinfo

How to make budget month by month

Every month, we begin the climb toward achieving our monthly sales budgets.  We all know that it's impossible to achieve those goals when we enter the month with no business on the books.  We must have a base of business from which we can build each month. To make certain that we achieve our goals, how much base business do we need?  How do we pace our progress?

We need to monitor our progress for the current month, next month and the month after that.  By looking forward over the next three months, we can spot potential problems in the way our upcoming business is pacing and can have the time to correct those problems.  Here are some simple formulas to help you to hit budget:

By the first Friday of each month, your billing should be at82% of budget for the current month, 45% of budget for the next month, and 20% of budget for the third month out.

By the second Friday of each month, your billing should be at 92% of budget for the current month, 60% of budget for the next month, and 25% of budget for the third month out.

By the third Friday of each month, your billing should be at 100% of budget for this month, 68% of budget for the next month, and 30% of budget for the third month out.

By the fourth Friday of each month, your billing should be at 105% of budget for the current month, 75% of budget for the next month, and 37% of budget for the third month out.

Achieving these percentages will assure that you hit your budgets.  Instead of playing "catch up" the last week of the month as you frantically try to find enough business to meet budget, you will already have made your budget by the third Friday of the month and can now move on to selling the upcoming month. 

Planning ahead pays big dividends.  Selling long-term business assures us that we will not have to start over each month.  Knowing where your numbers need to be each week of the month will keep you ON TARGET to reaching goal!

About The Author 

Pat Bryson is the founder of Bryson Broadcasting International, a consulting firm that works with radio stations around the world to increase revenue by raising the skill level of their sales staffs. Her client list spans from the United States to Canada, Europe and Central Asia.

Pat has spent her entire career creating a culture of over-achievement for her stations. She began her career in radio sales, becoming one of the highest billing sales people in her market. Her career advanced to General Sales Manager, and then to Market Manager. Since starting BBI 7 years ago, she has helped hundreds of radio stations to find, train and grow great quality sales people and managers.

Pat was the recipient of two prestigious educational fellowships from the Educational Foundation of the National Association of Broadcasters: a fellowship to the Executive Development Program and a fellowship to the Broadcast Leadership Training Program.

She publishes the Bryson Broadcasting International Newsletter twice monthly and is a contributor to Valerie Geller’s latest book, Beyond Powerful Radio: A Communicator’s Guide To The Internet Age.

You may contact Pat at Pat@patbryson.com or visit her website at http://www.patbryson.com.

This article was republished with permission from Pat Bryson's Newsletter

 
 

0 Comments

Log InYou must be logged in to post comments.
radioinfo ABN: 87 004 005 109  P O Box 6430 North Ryde NSW 2113 Australia.  T: 0413 790 666 02 9888 5705  |  All content © 2012. All Rights Reserved.