C2C DAILY Coast to Coast Business December 2018 Edition 9, Volume 1
What do we think of when we think of fiscal year end? Taxes! What else? That's why for businesses, year end is the perfect time to do your business planning for the following year. You're already dealing with the books so why not do some analysis and make some decisions to ensure that your
business prospers over the coming year? For some small businesses this is really difficult while for others it's a breeze. But whether you're one of those solo entrepreneurs with a glovebox full of receipts that haven't even been entered yet or a small
Planning is vital if you want a healthy, growing business. Business planning lets you take stock of what worked and what didn't work, and helps you set new directions or adjust old goals.
business person who has a bookkeeper on your payroll, you have to get this step done before you can do anything else. You know the cliché; businesses that fail to plan plan to fail. We all know how important business planning is, but it's easy to
put off in the press of daily events.
Set next year's goals.
Prepare an action plan or plans.
Start implementing your action plans.
GET READY FOR 2019 How to set goals and
o bjectives
As business owner, it’s important that you take the time to set goals and review your business as a whole.
The New Year is a great opportunity to take some time out of your business to reflect and review. Not only can it help you evaluate the effectiveness of your strategies from the previous year, it can help you set your sights on new goals and objectives for the year ahead to help you set yourself up for business
success in 2019. Your goals should form part of your business plan and will likely become your business objectives. Before you even begin to write down your goals, you need to know what areas your business needs to improve in, or could improve in. Although you may already have an idea of the key areas, it’s
important to regularly step back and review your business. Setting SMART (specific, measureable, achievable, relevant and timely) goals can help you evaluate the goals you wish to set. Think about whether they are realistic.
Here are a few things to consider when setting your goals: Specific, Measurable, Achievable, Relevant and Timely
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