At Pilot we encourage our clients to take some time out of working in the business and spend some time working on their business. 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.
With the new year here, it is a great time to step back to reflect and ask yourself what your business goals and objectives are for 2022.
Give some creative thought to what the year ahead might look like for 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 successful one.
Your checklist for business planning
Some other questions you might like to consider to plan your business vision or path forward could include:
- Do you know the value of your business and the key drivers to maximise this?
- Do you have solid budgeting and 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 in 2022? How will you fund these?
- Are your staff loyal and satisfied in their role? And do they have clear Key Performance Indicators (KPIs) 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?
At Pilot Partners we have the know-how and experience to develop strategies that will effectively navigate your business towards success. If you have any queries, contact Cameron Woodcroft, Murray Howlett or your Pilot advisor on (07) 3023 1300.