Suslick Step's
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Budget Committee Meetings

Which one is you?

Which one is you?

Budget committee meetings (17 minutes of meeting) Thanks to Peter & Dave for content on this subject. Teaching Financial Peace University and the content at Peter’s blog helped clarify what we should be doing.

Because of the inherent differences in owners, leaders & team members, men and women, nerds and free spirits, we need to lay the groundwork for working together on our company finances.

If we apply the home concept to our business budget, Dave Ramsey might talk about the need for team “budget committee meetings” where all necessary team members in the work relationship talk about the monthly budget, and have a stake in it.

It isn’t acceptable for one team member to be solely responsible for the money, it is something that all necessary team members need to be involved in, and have a stake in. He might ask in his teaching more than once, “Who is responsible for the money? You ALL are!”.

In these budget committee meetings (max of 17 minutes) there are a few ground rules, but basically it boils down to this:

1. Dale (or team of Nerds) does the budget beforehand and brings it to the meeting.
2. Nerd team gives budget to the free spirits for feedback – and shuts up for 5 to 10 minutes.
3. Free spirits must make some changes to the budget, and gives intelligent feedback for 5 minutes.
4. Free spirits must not just say, “Whatever you want to do, nerds”. 2 to 7 minutes are used to finalize the budget.

These meetings allow team members to have a say, and means that you’ll be more invested in our shared financial venture.

A large number of team member relationships end because of problems that we have had in communicating our financial matters, and because of mis-communications that we had in this area.

This week really drove home the point for me that we all need to get on the same page as our beloved team members, and hold each other accountable to the workplace financial plan.

If we can’t do that, then our plans are doomed to failure.

Working together, as a team of nerds & free spirits, were all going to be successful.


3 Responses to “Budget Committee Meetings”

  1. Dale,

    I have been looking over my DR workbook from Dallas, and how true this is! I look forward to working on this from now…to infinity and beyond!

    Thanks for posting such enlightening material for your team to read and learn from.

    See you Thursday!

  2. Budget input from all not just one. Very powerful!!

    Good, smart steps. thanks for posting.

    Looking forward to many more of these!!!!

  3. and I want Becky M to tweak my budget!! oh, how much $$$ I’d save!

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