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Financial legacies are the most damaging, warns Jeff Killeen. “Don’t get trapped into adopting someone else’s budget,” he says, “even if the board puts pressure on you to lock down a plan. You need several months to assess assumptions, and budgets are products of assumptions, thoughtfully drafted. You need time to think about the right metrics and business drivers, and then you need time to think about the talent and resources necessary to pull it all off. By letting yourself compromise on this point,” he concludes, “you give up a slide of your credibility. God forbid you adopt someone else’s plan, knowing you want to revisit their assumptions. Six months later when you do that and you have to reforecast, the board won’t remember that that’s what you said you were going to do.