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By now you have a pretty good idea how 2016 will end up. Are you going to achieve your business goals? Your personal Goals? That’s not to say you can make up ground or work hard to do even better. But, as we close the third quarter for 2016, it’s time to review the year, revisit your goals and start planning for 2017. It all starts with reviewing your financial situation. Set up a meeting with your accountant. Discuss your 2016 projected sales and profits. Don’t wait until 2017 to do this. There are many tax implications that need to be addressed before the end of the year. In addition, you need to review all your expenses and payroll in order to reestablish your breakeven sales number; and to also create your 2017 budget. This is also the time to review your marketing plan and budget for 2017. Lastly, you need to perform an audit of your facility. Inspect your facility and equipment. Is it time to upgrade equipment? Are there any building or facilities repairs needed? Needed training? Planning for the future is planning for success. And while there is no “perfect” plan, not planning is a path to eventual failure.
No matter what the year has been, this is the half way point for the year and time to review your business plan for 2016. This is also the time when you review all your 2016 goals, both personal and business. Assess where you are and make the adjustments needed to achieve those goals. Dont worry about the last six months if it did not live up to your expectations. Make the needed course corrections to maintain your focus and make sure you align those corrections to what you need to achieve your objectives. Lastly, remain positive, know the numbers of your company and create strategies that are in line with your goals.
2014: Time for Review, Time to Move Forward It’s hard to believe that another year has passed. I guess my father was right when he said the older you get, the faster time goes by. If you haven’t done it already, you need to reflect on the past year. What were your accomplishments? Did you achieve your goals? Complete your review and plan to move forward. Did you complete your2014 business plan? If you didn’t, you should do it ASAP. And it must be written down. A plan is not a plan unless is written down. If it’s in your head, it’s nothing more than a dream. It’s a known fact that those with clearly written goals and a clearly written plan are much more successful. That’s does not mean you will always achieve those goals. But the odds are far greater when you have a plan and goals with deadlines. And please remember; a plan is a live document. You must review it often, tweak it as needed and modify it when needed. Please include life needs too, don’t make your plan all about business. We all want to move forward in our life. But, just like taking a road trip, mapping out the way makes it a whole lot easier.