The Christmas holiday season is a great time to reflect and ask yourself what your business goals and objectives are for the New Year. Too often businesses fail due to lack of future thought and planning, particularly when they get bogged down in the day-to-day grind of operations.
This holiday season, give yourself permission to take some time out, change your environment and recharge your mental batteries. Give some creative thought to what 2020 might look like for you and your business.
Ask yourself, where do you see your business this time next year? Is business expansion something you’d like to achieve? Do you have the right staff in place to achieve your business goals or are there gaps? Do you need to start a succession plan?
Dedicating some focused time to these and other questions could mean the difference between having an average year or a great one. It can also give you the mental freedom that you have the infrastructure in place to see your business succeed. Recognising also that success depends on having the discipline to regularly review and refine your action plan to make sure you’re staying on track to achieve your goals.
Some other questions you might like to consider to plan your business vision or path forward could include:
- Do you have solid budgeting & cost management systems in place?
- Are you happy with your business structure as it is? And will it take you forward?
- Do you have any major investment decisions you need to make this year? And how will you fund these?
- Are your staff loyal and satisfied in their role? And do they have clear KPIs (Key Performance Indicators) in place?
- Do you have strong financial reporting and cash flow management processes in place to get the most out of your business?
- Are you thinking about exiting the business and if so when?
- Do you know the value of your business and the key drivers to maximise this?
So, wherever you are over this festive holiday season, switch off and clear your head. Use this valuable time as an opportunity to formulate an action plan that could help achieve your future business goals and give you peace of mind.
At Pilot Partners we have the know-how and experience to develop strategies that will effectively navigate your business towards success. Call us on (07) 3023 1300 today or in the New Year to discuss.