Stephen Ellul, CEO of Growth Bully, has emphasised the need for businesses to rethink their approach to budgeting, particularly when it comes to marketing.
In a recent LinkedIn post, Mr Ellul advocated for a shift from static annual budgets to a dynamic, quarterly review process, warning that outdated budget practices could hinder growth.
“Budgets shouldn’t be static,” Mr Ellul stated, noting that what works for a business in the first quarter of the year may not necessarily yield the same results in the third. While setting a budget at the start of the year is important, he argues that it is only “half the equation.” The real game-changer, he says, is refreshing budgets every quarter.
Mr Ellul outlined three key benefits of this approach:
He also cautioned against the all-too-common practice of setting a budget once and forgetting it. “Too many businesses realise mid-year that they’re either overspending or missing growth opportunities,” he said.
The Growth Bully CEO’s advice comes as companies prepare for the new year, making it a timely reminder for leaders to consider more agile budgeting strategies.
“Start 2025 with a clear, actionable budget,” Mr Ellul urged, “and make quarterly reviews a habit.”
Featured Image:
Stephen Ellul / LinkedIn
For the last two years she has served as head of the group’s Luxury Living Sustainable Hospitality Company.
Aaron tells MaltaCEOs.mt he's 'humbled and excited' as he takes on the new role.
The market commentator and Director addresses key questions raised by the potential bond default involving MMH.
The new facility will be converting corrugated sheets produced in Malta into premium packaging