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Maximizing Team Finances

Updated: Sep 3, 2021

Budgets are a hot topic among teams every year, we would argue that they are even more critical in the midst of this pandemic.

Maybe you need to deviate from the usual standard budget outline you use every year. In 2021-2022, you might have less travel but need to spend more on advertising.

Facility rentals might be harder to come by so you might need to budget for higher business expenses to accommodate for the purchase of an outdoor pool heater.

Figuring out what your team needs are and laying out a yearly and monthly outline will help you make the most of your situation, whatever you might be facing.

Having a plan, is essential for facing the unknown. How can you adjust your team budget to reflect possible challenges you may face in 2021-2022? It's much better to have a plan than to be scrambling last minute for solutions.

Start by controlling what you can control. What revenue sources do you have? How can you grow the income sources you already have?

Focus on sponsorships if you aren't sponsored and see what a brand or local sponsor could bring to the table for your program.

How can your alumni become more involved in the team? They might have resources or the means to contribute if you communicate with them on your current needs.

Maybe you can do an extra fundraiser this year that can offset that unexpected cost you had to endure to keep things running.

This might be the year that you finally start that out reach swim lesson program or seasonal league.

What steps can you take monthly to help you reach your annual team goal?

COVID presents many challenges, but you also have a better idea now of how to prepare for those challenges. Create financial goals and go after them. You can do it, we believe in you!

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