By Jamie Ihms
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If you’re planning for next year now, it’s too late. Wait, isn’t it better late than never? I would say so.
So, let’s start with the basics.
When you have a big picture idea of what you want your company to be, it’s easier to make the decisions that will get you there.
If your goals are too lofty, or too vague, you won’t get very far. Make sure that when you’re setting goals for the new year, you’ll know when you’ve achieved them. For instance, instead of “I want to make more money next year”, maybe you write down your goal as, “I want to make $50,000 in profit”. Then, take that to the next steps which will help you get there. If your expenses are x, then what does your revenue need to be in order to make that profit? Going even further, if you break that down into how many sales of whichever products or services you need to do during the year, is that a reasonable goal?
Next, we look at the different types of goals to set. You can find some focus by giving yourself some direction. The above are some categories to think about.
If you already have a full business plan, this is a great time to revisit that and make sure you’re still on track for where you want to be. If you’re not on track, what are the areas that need to be changed and thought through for the next year?
No business plan? No problem. Starting with a one-page summary or a basic idea is better than having no plan at all. If you fail to plan, you plan to fail.
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Here’s to finishing 2019 strong and starting 2020 with a bang!