Time to Plan for a New Financial Year!

It’s a challenging time for businesses, especially as we’re facing a surge of omicron cases all over the country. We understand that close contacts and self-isolation are already affecting the way we move forward in business, not to mention creating additional stress and admin. Let’s work together to review and tweak your business model to thrive in these current times.

Where to start?

Firstly, we should define where you are now (warts and all) and then where you want to be.

Then get clear on exactly what it is that you want - decide if you’re aiming for lifestyle, hyper-growth or return on investment.

What are your business goals for the new financial year?

The beginning of a new financial year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement.

Last year, there were inescapable impacts on businesses, with some thriving, others failing, and others just getting by. So how did the past year go for your business?

Take the time to review the past financial year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an objective perspective can provide valuable insights to prepare for the next business year. Planning and goal setting will help provide a focus for your business efforts.

Let’s work on a plan

We need to determine your key elements for a good strategy. This would normally incorporate aspects of the following:

• Vision – this is a statement that identifies what a company would like to achieve or accomplish.
• Values – these are the fundamental beliefs upon which your business and its behaviour are based. They are the guiding principles that your business uses to manage its internal affairs as well as its relationship with customers.
• Objectives – short term, long term. These should be SMART (specific, measurable, achievable, realistic and time bound).
• KPIs – stands for Key Performance Indicators. These are measurable values that demonstrate how effectively a company is achieving key business objectives.
• Actions – what needs to be done to meet the objectives? Make this simple and clear.
• Owners – delegating tasks to specific owners to ensure follow through and accountability.
• Deadlines – when your actions will be complete to ensure you make progress.

It doesn’t need to be much more complicated than that, but it does require time and effort from you to do this right. A proactive, value-add strategic model will need fresh thinking, healthy debate, research, and open conversations.

We are here to help you through this process. Great planning requires a guide, facilitator, and/or professional expertise to be as robust as possible. We can help your business and guide you through the steps. Putting strategy at the heart of your business activity should not only give your business greater direction and focus but lead to stimulating, profitable opportunities too.

It’s time to get started!

If you would like to know any more information or want to start working on your business, please get in contact with us.

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