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New Year, New Decade – Time For A New Plan…

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New Year, New Decade – Time For A New Plan…

New Year, New Decade – Time For A New Plan…
January 09
12:11 2020

Daniela Grendene

As an owner-managed business operating in a competitive and challenging market, if there was ever a time to sit back and evaluate your game plan for the next 12 months, it’s now.

Daniela Grendene outlines the steps operators should take to get their house in order for the year ahead…

Whether 2019 was a great year or a tough year for you and your staff, an up-to-date plan is the one crucial aspect that many operators tend to overlook as the new year rolls over. Many forget to review theirs (if they even have one) on a semi-regular basis and so consequently launch head-on into the new year making the same mistakes and missing the same opportunities as they had done in the past.

The simple fact is that writing a business plan is time-consuming and hard word but if done properly it comes with great rewards. These include:

  • Providing a clearer understanding of your financial goals
  • Helping to secure a business loan or attract investors
  • Minimising the risk of getting caught out with cash flow issues
  • Helping to eliminate non-profitable areas of the business
  • Becoming a valuable asset should you decide to sell the operation

When revisiting or reformulating your business plan, it’s important to consider the following: 

  • Reflect. Take a look back over the past 12 months. What went really well for you this year? What didn’t? And what do you want to have happen over the next year and into the next decade?

 

  • Envision. Get clear on what you want for yourself. Write down your goals and the dreams you want to accomplish over the next 12 months, five years and ten years. Envision the person you are going to become as you make it all happen.

 

  • Plan. Think about your big goals and consider the smaller steps you will need to take to achieve them. Taking one small action every day will bring you closer to the life of your dreams.

Above all, don’t jump blindly into the new year. Spend some quality time working on your business plan now and I can guarantee you will save yourself a mountain of headaches in the coming months.

Daniela Grendene is an executive coach with 25 years’ experience who teaches directors about business results and making money. To book your 2020 strategic planning session for a solid financial outcome over the next 12 months, contact danielagrendene@actioncoach.com or call 07736 711 414.

www.actioncoach.co.uk.

 

 

 

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Catering Scotland

Catering Scotland

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