Business Lunch Rethinking Corporate Budgeting: Lessons from a CEO's Radical Experiment
Welcome to a new episode of Business Lunch! In this episode, hosts Ryan Deiss and Roland Frasier discuss a recent article about a CEO who overhauled his company's budgeting process, moving from annual to quarterly cycles and reorganizing teams every 90 days. They explore how this approach could be applied to smaller businesses and share insights from their own "scalable operating system" philosophy.
Highlights:
"Budgets represent the worst of corporate bureaucracy."
"The annual plan is the worst unit of measurement that there is."
"Every 90 days, people can flow between teams, money can flow between teams, and you're working on the most important thing for the next 90 days."
"The organizational structure is just whatever that structure needs to be to support the goals of the company today."
Timestamps:
00:00 - Introduction
05:00 - Comparing the hosts' existing planning process to the quarterly approach
08:05 - Pros and cons of quarterly comprehensive company reorganization
12:41 - How a quarterly team-based approach could work for smaller companies
15:00 - Determining who should decide the team composition and how
20:00 - Outlining the roles of the project lead, core team, and support team
25:00 - Discussing the project lead's authority to reprioritize team members
27:10 - Identifying the different team categories: core, support, and stakeholders
29:31 - Explaining the role of stakeholders in the project review process
31:02 - Final thoughts
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