Steve Jobs had an affinity for Zen. One of the concepts he deployed in business from this perspective was “the beginners mind”. In its most basic form “the beginners mind” allows us to believe that in any circumstance there are many possibilities. Interesting. Can we apply this to the annual budgeting process for our assets?
The over-simplified budgeting process: take last years budget, compare it with actuals, split the differences and add 3% to revenue categories and 2% to expense categories. Done. Next! So much for thoughtfulness, professionalism or being connected to reality. Budgeting can be a “value add” proposition, assisted by the beginners mind perspective.
Read more...Budgeting and the Beginner's Mind | Multifamily Insight Blog
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