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In this Kauffman Founders School video, Bill Reichert discusses the challenges of budgeting and forecasting for startup entrepreneurs. He emphasizes the importance of hitting budget targets, noting that failure to do so is a common reason venture capital investors terminate founders and CEOs. Reichert aims to provide strategies to simplify the budgeting process, acknowledging that while predictions may not be accurate, they help frame thinking and allow founders to understand deviations from expectations. He introduces the concept of the operating budget, which will be explored further in the session.