The other day, I discussed with my team the importance of managing our financial performance. I suggested that everyone look at their budgets and then manage their expenses as if they only had 90% of that amount to spend. This philosophy could pertain to quality issues, staffing, supplies or volume.
The same method can apply in our personal lives. If you have a budget to spend $1,000 on your credit card, focus on ways to manage to $900. Two outcomes may occur: you will be relieved you planned ahead when the bill turns out to be $1,000 or you will have an extra 100 bucks. Both outcomes are positive.
Sure, you may not know when or what will happen but if you really look at your day, your business, your personal life, there are trends you can follow. Basically, the point is having the discipline to keep 10% in reserves for the time it is critical. Cynde, our Chief Nursing Officer, took my discussion to heart and left me a small gift:
As you can see, the good folks who make Lifesavers plan ahead for all contingencies: there is actually an extra 10% sealed in reserve.