1 00:00:00,080 --> 00:00:02,919 We are. Welcome, Don Luis, how you spent the night. It 2 00:00:03,399 --> 00:00:07,080 ' s raining well, all right. I always like rain. I like 3 00:00:07,120 --> 00:00:11,519 the rain at night, especially when there are trees and there is tranquility, 4 00:00:11,679 --> 00:00:16,039 there is stillness and there is no loudness of the plugs, and that has 5 00:00:16,039 --> 00:00:18,160 problems. I don' t do it in the rain and my house I 6 00:00:18,160 --> 00:00:21,519 realize. When you speak mental ah da, I don' t know how 7 00:00:21,559 --> 00:00:25,719 you hear when you approach, if you lack it exactly if you do. 8 00:00:26,199 --> 00:00:30,480 I' ve got a back. There' s a house he has, 9 00:00:31,199 --> 00:00:34,960 which has an end roof, but then it looks like the drip that drops 10 00:00:35,000 --> 00:00:40,119 his era from a shooting to sing it. He wouldn' t let me 11 00:00:40,119 --> 00:00:44,799 sleep. I' m going to talk to him hygienic to make it more 12 00:00:44,799 --> 00:00:45,960 continuous and so it doesn' t look like there' s a shooting. 13 00:00:46,039 --> 00:00:48,799 I definitely woke up every batch starting with a mess. That' s the 14 00:00:48,799 --> 00:00:55,880 way to say it' s okay. Be alert, for the theme of 15 00:00:55,920 --> 00:01:00,560 beautiful beauty is what I have seen please. Therefore, it has a subjective 16 00:01:00,600 --> 00:01:07,920 component, personal opponent and obviously there is also a social component or what is 17 00:01:07,920 --> 00:01:15,040 culturally accepted as beautiful, which is culturally valued and appreciated. And obviously one 18 00:01:15,120 --> 00:01:21,000 is born in a culture, in an environment where that is valued or appreciated. 19 00:01:22,599 --> 00:01:26,359 On the other hand, yes, the brain will always look for those 20 00:01:26,439 --> 00:01:34,239 things that give it pleasure, that are pleasant to them, that are familiar 21 00:01:34,280 --> 00:01:38,760 to them and that are friendly to them. So, obviously, that a 22 00:01:38,959 --> 00:01:45,319 face that I have perceived as beautiful, because it produces that, then people 23 00:01:45,359 --> 00:01:51,799 feel more relaxed, more confident and can enter more and feel much more comfortable 24 00:01:51,920 --> 00:02:00,159 and obviously that kind of beauty. Now that from there to in a working 25 00:02:00,200 --> 00:02:08,280 environment, that contributes to performance and everything is a little exaggerated. It' 26 00:02:08,360 --> 00:02:15,520 s a bit of common sense, because they' re putting aside what actually 27 00:02:16,159 --> 00:02:21,800 produces, performance and motivation, which is something the employee wears remember that gives 28 00:02:21,919 --> 00:02:25,639 a sense of well- being. Well, it' s not a feeling 29 00:02:25,639 --> 00:02:30,520 of well- being, but the person feels good, nice and tasteful. 30 00:02:30,080 --> 00:02:39,680 But once the day begins, the work begins. There are women who the 31 00:02:39,719 --> 00:02:44,639 case of men who are beautiful and that and what awaken in fear and fear 32 00:02:44,759 --> 00:02:50,680 because they already know it, that is to say that that effect has already 33 00:02:50,680 --> 00:02:55,199 gone. That was the first impression. As you say, in my particular 34 00:02:55,280 --> 00:03:04,080 experience, I feel very comfortable working with beautiful and very intelligent women. So, 35 00:03:05,000 --> 00:03:07,039 so she' s not blonde, she can be blonde, all right, 36 00:03:07,120 --> 00:03:10,240 but there' s no more stuff like that I feel like hypnotizing, 37 00:03:12,039 --> 00:03:15,360 when you have people who look good and who are also super competent. What 38 00:03:15,360 --> 00:03:22,520 happens overwhelmingly, I mean, is an element that creates. I' m 39 00:03:22,280 --> 00:03:27,000 talking about me sending, it' s an element that creates that sense of 40 00:03:27,000 --> 00:03:29,599 satisfaction, of security. You feel calm. You feel good about what I 41 00:03:29,719 --> 00:03:35,520 said, for example, about a plate. When they decorate it it is 42 00:03:35,599 --> 00:03:39,599 nice and the appetite enters through the eyes, then the same chef who is 43 00:03:39,680 --> 00:03:45,439 going to prepare a dish has to prepare it so that it appears. So, 44 00:03:45,919 --> 00:03:50,120 if you' re going to buy a dessert that you don' t 45 00:03:50,120 --> 00:03:52,400 know what it' s about? Which one you think is going to choose 46 00:03:52,479 --> 00:03:57,840 the most beautiful one exactly. So that' s it. Let' s 47 00:03:57,879 --> 00:04:03,400 say that this is the reptilian system, the primitive theme that responds in front 48 00:04:04,000 --> 00:04:09,919 of it, that it responds quickly and will respond in a favorable and positive 49 00:04:09,919 --> 00:04:11,759 way what it perceives in that way. Now, from there to the other. 50 00:04:12,360 --> 00:04:16,839 It' s true. It is a little exaggerated, because another element 51 00:04:16,959 --> 00:04:25,439 that favors much is the smile. A nice person, be nice or ugly. 52 00:04:26,319 --> 00:04:30,319 If he' s nice, sympathy means those people who show joy, 53 00:04:30,959 --> 00:04:38,480 show a smile when they speak spontaneously, look into your eyes. So that 54 00:04:38,519 --> 00:04:45,040 person what is known as sympathy and they like and it doesn' t matter 55 00:04:45,040 --> 00:04:47,800 what else. But it' s a little overstated to say that that increases 56 00:04:47,800 --> 00:04:53,079 or can. It has something to do with motivation so if you were thinking 57 00:04:53,120 --> 00:04:57,279 of firing someone, leave it there, quiet, of course? You heard 58 00:04:57,720 --> 00:05:00,879 there, yeah, there, leave him alone, of course? Well, 59 00:05:01,040 --> 00:05:09,360 today' s subject made it calm. Yeah. The budget is a tool 60 00:05:09,399 --> 00:05:15,360 for the growing company. We' ve been talking in the last few days 61 00:05:15,399 --> 00:05:20,920 about organization, decentralization, room so the budget is a skill. It is 62 00:05:21,040 --> 00:05:31,240 a tool to be used by business owners. And the budget has several functions. 63 00:05:31,759 --> 00:05:39,600 It can be used differently, as we say. The situation of the 64 00:05:39,639 --> 00:05:45,079 company, the situation in which they are, for example, companies that are 65 00:05:45,959 --> 00:05:47,920 out of control and do not make the money, escapes it, leaves it 66 00:05:48,120 --> 00:05:53,000 and do not know what is going on. Or they find that income isn 67 00:05:53,079 --> 00:05:57,240 ' t enough. Then it was time, apart from doing an internal audit 68 00:05:57,279 --> 00:06:02,360 that can be done by themselves, to go to the budget. But also 69 00:06:02,439 --> 00:06:09,240 when a company feels that it' s okay, that it' s not 70 00:06:09,279 --> 00:06:15,480 doing well, but that it wants to increase its profitability, that it wants 71 00:06:15,720 --> 00:06:20,040 to increase not only its revenues, because sometimes there is a company that has 72 00:06:20,199 --> 00:06:25,800 good revenues, but because it doesn' t know how to manage the revenues, 73 00:06:25,800 --> 00:06:27,199 the expenses, then its profitability is not good. Then there is also 74 00:06:27,279 --> 00:06:31,360 the budget working. And also when the company feels that it has to have 75 00:06:31,480 --> 00:06:41,720 better margins as it must have better profits, it must have greater productivity profitability, 76 00:06:42,199 --> 00:06:46,639 it wants its company, that its organization gives it better results. Then, 77 00:06:46,720 --> 00:06:54,120 in those different contexts you can use the budget as a tool. So, 78 00:06:54,279 --> 00:07:03,560 in the general sense, the budget has first, but it can build 79 00:07:03,560 --> 00:07:11,560 the future, it can foresee the future, it can anticipate, defining what 80 00:07:11,680 --> 00:07:17,199 it wants, but not only what it wants, what it wants, but 81 00:07:17,199 --> 00:07:23,879 what it has to achieve to have profitability, the desired profitability, because many 82 00:07:23,879 --> 00:07:25,720 companies have profitability of ten, of twenty, of thirty of forty. Then 83 00:07:25,759 --> 00:07:30,279 the desired profitability, taking into account the industry in which you are working. 84 00:07:32,319 --> 00:07:38,360 Therefore, the budget is also something that is a tool that allows you to 85 00:07:38,480 --> 00:07:44,199 have control of today' s reality and, especially by areas, by department, 86 00:07:44,519 --> 00:07:48,639 to establish indicators, so that everyone spends what they have to spend, 87 00:07:49,800 --> 00:08:00,360 that they invest what they have to invest. Then you have all those facilities 88 00:07:59,759 --> 00:08:07,240 that provide the budget. Obviously, to apply a budget, the company must 89 00:08:07,279 --> 00:08:16,160 be prepared to plan its activities, plan its sales, plan its purchases, 90 00:08:16,519 --> 00:08:24,439 plan its collections and plan production and all its operations in some way. So, 91 00:08:24,720 --> 00:08:33,759 that budget, because a budget is supposed to indicate the amount that you 92 00:08:33,320 --> 00:08:39,120 can spend to produce x things. So those budgets, for example, of 93 00:08:39,240 --> 00:08:46,200 production, which indicate that quantity we must invest in raw material to convert it 94 00:08:46,360 --> 00:08:50,799 into finished product or, in the case of what they do not manufacture but 95 00:08:50,879 --> 00:08:58,759 sell finished products that buy products to resell, then they must always have a 96 00:09:00,159 --> 00:09:07,919 purchase budget that tool that allows balance, balance what we have to spend to 97 00:09:09,600 --> 00:09:15,919 have the result we want. And obviously, if we want results of ten 98 00:09:16,720 --> 00:09:22,679 and we spend twenty, then we have to produce thirty so that when those 99 00:09:24,240 --> 00:09:28,000 thirty enter they leave with the twenty and we have the ten that we have 100 00:09:28,080 --> 00:09:33,399 desired, then that allows us to do. That obviously, that the budget 101 00:09:33,960 --> 00:09:37,799 in this current time, as it will always require what we have said about 102 00:09:37,799 --> 00:09:43,639 technology. You have to have a software. You have to have a software 103 00:09:43,759 --> 00:09:50,159 that not only keeps the tax accounts, but is able to record every penny 104 00:09:50,279 --> 00:09:56,799 that comes in and every penny that comes out must be perfectly registered. It 105 00:09:56,279 --> 00:10:05,039 is no longer accepted today to keep papers invoice vouchers and then type it. 106 00:10:05,960 --> 00:10:09,559 That' s no longer appropriate. It' s not healthy. Today, 107 00:10:09,679 --> 00:10:16,000 an exit immediately occurs including a fuel ticket to give to someone. In the 108 00:10:16,039 --> 00:10:20,000 event that they give you ticks before handing over, the ticket must be registered, 109 00:10:20,679 --> 00:10:26,159 although already most companies that use fuels have cards for that and then that 110 00:10:26,279 --> 00:10:33,639 makes it easier because already there it will always be registered. So in the 111 00:10:33,720 --> 00:10:39,200 content of the budget, obviously you' re going to have an income forecast, 112 00:10:39,399 --> 00:10:46,320 you have to have an expenditure forecast and obviously you' re going to 113 00:10:46,440 --> 00:10:52,559 have to define a strategic plan. Strategic plans are not theoretical, grandiloquent and 114 00:10:52,919 --> 00:11:00,919 require too much talent and a specialist. No. The strategy is simply inti 115 00:11:00,960 --> 00:11:03,519 in this case. How we' re going to apply the budget. What 116 00:11:03,559 --> 00:11:09,159 we' re going to do to provoke that income and what we' re 117 00:11:09,440 --> 00:11:15,120 going to do to make sure that it doesn' t go by hand or 118 00:11:15,240 --> 00:11:18,879 that we don' t spend our money on overtime beyond what you can or 119 00:11:18,879 --> 00:11:24,679 the subject of the viatics, the diets and all those expenses in the case 120 00:11:24,679 --> 00:11:26,639 of companies that work outside and that have to do between them. So, 121 00:11:28,240 --> 00:11:35,120 finally, it has to be said that I consider the budget to be an 122 00:11:35,320 --> 00:11:43,360 extraordinary tool because it also allows us to say that it is not enough here 123 00:11:43,360 --> 00:11:48,039 to say that we are good. We have to prove it and the budget 124 00:11:48,080 --> 00:11:54,240 is the best indicator of the outcome, because it allows us to compare what 125 00:11:54,240 --> 00:11:56,960 we said we were going to do with what we actually did. And the 126 00:11:58,039 --> 00:12:05,480 budget also allows to get the general manager, the accounting area, to have 127 00:12:05,600 --> 00:12:11,320 a day- to- day control of his financial health, that is, 128 00:12:11,679 --> 00:12:16,240 he can realize the financial health of the company by taking control of both the 129 00:12:16,360 --> 00:12:24,679 entrances and the exits. My recommendation to make the budget. There are three 130 00:12:24,879 --> 00:12:31,480 large types of overall budget results. The number one budget, which is the 131 00:12:31,480 --> 00:12:37,480 exercise that I assign to my clients, is that budget that you verify what 132 00:12:37,639 --> 00:12:43,200 comes in, verify what comes out in the first budget. The balance will 133 00:12:43,200 --> 00:12:46,440 be zero or it will leave very little, which is what is known as 134 00:12:46,480 --> 00:12:52,080 the equilibrium point. If you have already exceeded the point of equilibrium, we 135 00:12:52,200 --> 00:12:56,120 move on to the second budget. It' s an exercise. We verify 136 00:12:56,159 --> 00:13:03,240 what comes in, we verify what comes out in the second budget always remains 137 00:13:03,320 --> 00:13:07,399 a little more than in the balance that at the point of balance, say, 138 00:13:07,559 --> 00:13:13,679 already, the company is leaving a money that, although it is not 139 00:13:13,840 --> 00:13:18,120 much, but it is important and we have benefits. The third budget, 140 00:13:18,240 --> 00:13:24,519 which is the one we should always work on, is the one where I 141 00:13:24,639 --> 00:13:30,600 will ensure that my profitability is what I define. I' m going to 142 00:13:30,720 --> 00:13:37,120 have a net profit after or before tax like the one I define. So, 143 00:13:37,440 --> 00:13:43,840 as you know your outings, your outings, your expenses and you already 144 00:13:43,120 --> 00:13:48,279 know the second fact, which is the profit, then obviously you don' 145 00:13:48,360 --> 00:13:52,519 t have to be a genius to be able to identify how much, then 146 00:13:52,519 --> 00:13:58,320 how much your revenue budget is going to be, then that revenue budget. 147 00:13:58,519 --> 00:14:03,840 That' s the General Manager' s responsibility to set the goals of How 148 00:14:03,960 --> 00:14:11,120 are we going to achieve that income, how are we going to achieve those 149 00:14:11,279 --> 00:14:13,600 sales, how are we going to achieve that production? Keeping in mind that 150 00:14:15,159 --> 00:14:20,720 many times there are many companies that increase their sales, but in that same 151 00:14:20,840 --> 00:14:28,120 order, they increase expenses. So, in the end, your benefit is 152 00:14:28,200 --> 00:14:33,480 exactly the same. They sold a lot, sold more, but they spent 153 00:14:33,559 --> 00:14:37,440 more and it happens many times in entrepreneurs as I tell him that you are 154 00:14:37,519 --> 00:14:43,519 too serious and too responsible and in exaggeration in the sense, the team hurt 155 00:14:43,559 --> 00:14:46,279 to give it there bok in another. We have to do this. Then 156 00:14:46,720 --> 00:14:54,240 having to fulfill the commitments they have, then they spend what was theirs and 157 00:14:54,720 --> 00:15:01,240 much more rent equipment, other people enter, that is, they shoot the 158 00:15:01,399 --> 00:15:07,200 expenses to meet the goal of the sale. That' s obviously not bad 159 00:15:07,279 --> 00:15:11,120 from the point of view of customer service, but as far as your financial 160 00:15:11,200 --> 00:15:16,039 health is concerned, it' s affecting you. Then you need to improve 161 00:15:16,159 --> 00:15:20,960 your operations. Therefore, when very high production targets or sales forecasts are made, 162 00:15:22,000 --> 00:15:31,919 there is a temptation to increase costs to the same extent. So we 163 00:15:31,919 --> 00:15:35,799 ' re back, as I was saying, we' re going to increase 164 00:15:35,799 --> 00:15:41,039 sales a lot. We achieved our sales goal, but we didn' t 165 00:15:41,039 --> 00:15:46,000 get the mint. The budget skyrocketed in terms of expenditures and other costs. 166 00:15:46,879 --> 00:15:54,200 So the recommendation is to learn how to make the budget. If you' 167 00:15:54,279 --> 00:15:56,799 re not used to it, it' ll take time. Therefore, it 168 00:15:56,799 --> 00:16:03,600 is important to start with the ifa training available to draw up the budget let 169 00:16:03,639 --> 00:16:07,799 us say that it is the first. You should only ask the accounting officer 170 00:16:07,840 --> 00:16:12,399 to give you a report of the last month, an income balance, an 171 00:16:12,639 --> 00:16:19,720 exit balance that came in and came out, preferably if it corresponds to the 172 00:16:21,159 --> 00:16:25,080 twenty- four, because if you can recover the previous three months. From 173 00:16:25,080 --> 00:16:29,519 there he gets an average and realizes where his money comes in and where it 174 00:16:29,600 --> 00:16:34,240 comes from. And with that information, which is real because this happened, 175 00:16:34,320 --> 00:16:41,480 you can already do what is called a projected budget, but projected based on 176 00:16:41,600 --> 00:16:48,039 that reality. And he' s rehearsing. Believe me, most large companies, 177 00:16:48,480 --> 00:16:52,440 obviously you know, are managed with budgets. There are times when situations 178 00:16:52,440 --> 00:16:57,279 arise and they say the problem is that the budget for that item has already 179 00:16:57,360 --> 00:17:02,960 been exhausted, so that is when the budget is exhausted. Well, you 180 00:17:02,960 --> 00:17:07,200 have to make those notes and there are managers who have to speak very well 181 00:17:07,240 --> 00:17:12,759 to get that item approved, because the budget if that part is violated, 182 00:17:14,319 --> 00:17:19,160 obviously they' re going to violate profitability. Finally, and at home also 183 00:17:19,240 --> 00:17:23,160 with his wife, that the manager, if the exact home manager, if 184 00:17:23,160 --> 00:17:27,200 this always works in personal life, is complicated by anyone' s life managing 185 00:17:27,240 --> 00:17:33,720 the working life. We' re not spending on that. And finally, 186 00:17:33,839 --> 00:17:37,839 already the companies, who are already experts managing budgets, because they already make 187 00:17:38,000 --> 00:17:45,279 their annual budget, then they do it quarterly and they do it then obviously 188 00:17:45,279 --> 00:17:52,319 monthly. Thanks to Don Luis Minaya, as always very interesting what Don Luis 189 00:17:52,440 --> 00:17:57,400 is asking us is here basically giving free workshops in the programs that take advantage 190 00:17:57,440 --> 00:18:03,160 of all the information that Don Luis Compa has shared during these first three months 191 00:18:03,200 --> 00:18:06,359 and, as he said, since he entered to April, now what he 192 00:18:06,640 --> 00:18:11,200 touches is pineapples exactly now what touches viña. So let' s see how 193 00:18:11,279 --> 00:18:15,720 we get to two thousand twenty- five if God gives us the grace to 194 00:18:15,799 --> 00:18:19,519 get to that year and you can take stock and look for Dolby' s 195 00:18:19,519 --> 00:18:22,680 shares. To say, well, I did this, this and it turned 196 00:18:22,680 --> 00:18:26,680 out to be such and you will be able to evaluate there Luis and the 197 00:18:26,720 --> 00:18:37,839 recommendations that many of the audience receives from you, because they have had the 198 00:18:37,839 --> 00:18:41,039 effectiveness that you have proposed, that they can have in those improvements that you 199 00:18:41,279 --> 00:18:48,880 have pointed out that they should be implemented in fact, and so you can 200 00:18:48,880 --> 00:18:52,319 also evaluate the workshopist and evaluate yourself. In fact, for us consultants, 201 00:18:52,759 --> 00:18:57,599 the result of a company, that is, the profit what the company does 202 00:18:57,759 --> 00:19:04,599 is a reflection of the owner' s management style. That is to say, 203 00:19:04,759 --> 00:19:08,799 in other words, you have the results that it has in the way 204 00:19:08,839 --> 00:19:12,920 that you run your company, in the way, in the way you work, 205 00:19:14,200 --> 00:19:18,000 in the way that your leaders lead the person, in other words, 206 00:19:18,319 --> 00:19:22,680 it' s like health and what you eat and habits and habits and when 207 00:19:23,160 --> 00:19:26,480 you go to the cardiologist or you have the triglycerides. Well, I don 208 00:19:26,559 --> 00:19:30,400 ' t know what, no, what he eats you, what his diet 209 00:19:30,400 --> 00:19:33,720 is, what his regimen is. So, the results of the company have 210 00:19:34,319 --> 00:19:38,599 a lot to do with, more than eighty percent with the personality of the 211 00:19:38,680 --> 00:19:42,960 owner of those who run, the style and culture in the company. Then 212 00:19:44,000 --> 00:19:48,920 the budget. When he' s not favorably, then he already tells me, 213 00:19:48,680 --> 00:19:52,440 as a consultant, where you have to go, that is, how 214 00:19:52,519 --> 00:19:56,079 you' re directing, how you' re controlling, how he' s 215 00:19:56,079 --> 00:20:00,000 doing. For example, there are people who buy from common sense hearts. 216 00:20:00,440 --> 00:20:03,599 It' s selling a lot of that stuff. It' s selling such 217 00:20:03,599 --> 00:20:08,440 a thing. Buy a lot of it if you sometimes make decisions based on 218 00:20:08,519 --> 00:20:14,400 intuition and that worked in a time, time so painted and times are no 219 00:20:14,559 --> 00:20:18,799 longer for that. Now I was looking at a page where I was updated 220 00:20:18,839 --> 00:20:25,799 with a lot of information. Incredibly there was a ghost that fell into the 221 00:20:25,839 --> 00:20:29,480 business of the millions of communication, but that the radio was the one that 222 00:20:29,480 --> 00:20:33,920 suffered the most, which is that of the big data, in fact, 223 00:20:33,079 --> 00:20:38,559 the big data and all this question that is investing in more developed economies than 224 00:20:38,599 --> 00:20:41,839 ours. And here it' s coming to that very thing. And the 225 00:20:42,000 --> 00:20:48,759 radio cost him time to understand. And that time in understanding it took the 226 00:20:48,799 --> 00:20:53,039 radio a lot, a lot, it caused a lot of loss. And 227 00:20:53,039 --> 00:20:59,000 I think we leave a lot to intuition. But also in the process of 228 00:20:59,079 --> 00:21:03,279 understanding we kill the nature of the business. When I say, we kill 229 00:21:03,319 --> 00:21:07,039 because in America the reference and we' re seeing today that going back to 230 00:21:07,079 --> 00:21:14,200 what used to work is what' s incredibly working, yes, for that 231 00:21:14,279 --> 00:21:17,440 very, very well. Thank you, thank you, Don Luis. Hey, 232 00:21:17,519 --> 00:21:21,279 thanks, Don Luis. Remember Samana' s friends if it' s 233 00:21:21,920 --> 00:21:27,559 raining eh and they' re coming they' re picking up what Doña Gloria 234 00:21:27,559 --> 00:21:32,599 Ceballo says or it' s going to rain now that they' re duet 235 00:21:32,599 --> 00:21:33,319 which is their early fibula. Yeah, yeah, yeah. He' s 236 00:21:33,759 --> 00:21:36,160 got a good foot, he' s cracking me.