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Ruskin Felix Consulting

Ruskin Felix Consulting

Business Planning - Solution

Budgeting & Finance


Here at Ruskin Felix Consulting LLC, we believe that budgeting and finance are the cornerstones of any successful business plan and strategy. But first, let’s talk about what budgeting actually means. Simply put it’s keeping track of your income and expenses. As boring as that may sound but if you don’t keep an eye on your finances, your business is bound to hit rock bottom before you even realize it. 

Some may think that budgeting is a “set-it-and-forget-it” kind of thing. Even worse, others might think they don’t need it at all. But this is far from the truth. Whatever the scale of your business whether small or big, budgeting is necessary. A proper budget not only helps in allocating financial resources but also helps in identifying areas where costs can be cut without compromising quality or profitability. It lays down a framework for smart decision-making which ultimately leads to higher profit margins.


As a consulting firm one of the first questions we ask clients is that what are their financial goals. Because having a clear idea of what you want to achieve financially will help guide your budgeting decisions. Whether it is to increase revenue? Cut costs? Expand into new markets? Or something else but setting up realistic and actionable goals is extremely important.

One common mistake that businesses make while creating a budget is setting unrealistic goals for themselves. You must create projections that are achievable given the current state of affairs. Overestimating profits by featuring them with rose-tinted glasses can potentially put you in debt.

Once you have your goals in place, it’s time to start creating a budget. This isn’t just about keeping track of how much money is coming in and going out – this is about allocating funds strategically based on your goals. 

Take inventory of all your expenses (even the small ones!) and categorize them based on priority. What expenses are necessary to keep the lights on versus what expenses could be cut or reduced?

Don’t forget about forecasting. What we mean by that is taking into account potential changes in revenue or expenses down the line and adjusting accordingly. Are there any upcoming expenses that need to be factored into the budget? Will there be a need for extra cash reserves for unexpected events? 

Identifying potential risks to your business plan from unforeseeable crises such as pandemics or economic downturns should also feature in contingency plans, corresponding measures, and realistic alternative financial models.

Budgeting isn’t always the most thrilling task on your business ‘to-do’ list but is undeniably essential if you want to see financial success in your enterprise. Businesses must create clear financial goals for the upcoming months or years and decide on the allocation of funds that support these goals using strategic budgeting and forecasting methods. 

Budgeting helps develop a realistic reflection of earning potential, keeping all factors into account, including associated costs and helps identify areas for cost-cutting without compromising profits. Any savvy entrepreneur knows that cutting down costs (where feasible) is key to generating higher profits.


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$ 10 Mn.+
Assets Advised
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Years of Experience

Client Results

Advising the client on creating risk-based models to develop a micro-lending business in Columbia and build a risk assessment model that can compute and budget for the risk exposures, vendor risk mitigation, as well as comprehensive budgeting for interest and cost of lending computations.


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