Warning – Facetious Post Follows …
Out at dinner the other night and I received some excellent tips for budding public sector managers, particularly at this time of the changeover to a new financial year. A useful heuristic is to “Use the Power of Compound Interest”. Think of your budget a bit like a wealth investment strategy. It’s also bit like “The Secret” and having your positive thought processes become your future reality.
The strategy is to always ask for more. Think that you need $800,000 for your budget for the next financial year? Instead, ask for $1.4 million so that when it is cut back, you’ll probably get $1.1 million which is still way more that you thought you really needed. Play the game – everyone else is doing it! Sure there is activity-based costing and other games that Finance areas play to try and refine and define your ask – but you’re the one in the hot seat and it’s clear that the best managers are the ones who can sell and bargain more than others.
In the end, it is all just money for JAM – or Just Add More.
[And I will post more shortly – attended the Dave Snowden and Viv Read Cognitive Edge workshop last week and lots of material to post from here!]