It’s that time of year when our focus as Business Owners needs to balance between completing the execution of our 4th Quarter plans and creating our plan for next year. You do have a Q4 plan, right? And you always create Annual Plans? With so much uncertainty as we enter 2024, can you risk not having a plan?
I teach our clients a 4 Step Process for creating an annual plan that helps ensure that the plan is both realistic and also pushes them to do more than they think they can.
Step 1 – Self Assessment, both of your business and yourself as a leader of your business. This is all about taking stock of yourself and your business – a SWOT analysis of both.
Step 2 – Create your annual Budget. This includes setting goals for both Sales and Profit. Too many business owners fail to set goals and plan for profit, which is a critical oversight.
Step 3 – Define goals in the other Business Pillars (you’ve already done Sales). This includes Team, Operations, Marketing, and Finance.
Step 4 – Define goals for the foundation of your business – you! You and your leadership team are the foundation upon which your business grows and thrives. What are your personal development goals to strengthen your foundation so that the business doesn’t collapse when the pillars exceed the foundation’s ability to support them?
If you are ready for the Best Plan Ever, contact us to schedule a free session with one of our coaches. We will take a long hard look at where you’ve been, where you want to go, and chart a focused path to get you there.
Author: Mark McNulty, Business Coach