📊 Budgeting vs. Forecasting: Why Your Business Needs Both | Full Send CFO

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📢 Are you treating budgeting and forecasting as the same thing? Many business owners do—and it’s a costly mistake. In this episode, we break down:
✔️ The key differences between budgeting & forecasting
✔️ How CFOs use them together to drive business success
✔️ Why budgets are static, but forecasts must be updated
✔️ How to build a simple budget & rolling forecast today

⏱️ Chapters

00:00 - Introduction: Budgeting vs. Forecasting
00:32 - The CFO Mindset: How Budgeting & Forecasting Work Together
00:47 - Key Differences Between a Budget & a Forecast
02:52 - When to Use a Budget vs. When to Use a Forecast
03:23 - How Macroeconomic Conditions Impact Forecasting
04:27 - How to Build a Simple Budget & Forecast for Your Business
07:16 - Scenario Planning: Base, Best, & Worst Cases
07:53 - Final Thoughts: How to Make Budgeting & Forecasting Work for You

Key Takeaways:
✔️ A budget is a static plan—a roadmap for the year ahead.
✔️ A forecast is dynamic—it updates based on real-time business performance.
✔️ CFOs rely on both—budgets set goals, forecasts guide decision-making.
✔️ Review & adjust forecasts regularly—especially when conditions change.
✔️ Scenario planning (best, base, worst case) helps businesses stay agile.

📢 How often do you update your budget & forecast? Comment below!

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#Budgeting #Forecasting #FinancialPlanning #FullSendCFO #CFOInsights

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