What Do You Want For Your Business By This Time Next Year?
Success? Growth? More fun? Same old, same old?
POSTED BY JONATHAN VOWLES ON 05/02/2019 @ 8:00AM
Whether you are a start-up or established, I want you to think about your business. What do you want for it by this time next year?
Whether you are a start-up or established, what do you want for your business by this time next year?
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More successful or less? Bigger or smaller? Fun to run or filled with hassle? Retired and living next to a sun-drenched beach? Or just the same as it is now? Now, think about it in a bit more detail.
How many customers will you have and how much will they spend each time? What sort of marketing will you do and who is going to do it? What kind of premises will you have and where will you be located and is that a change from where you are now?
How many staff will you have and what sort of skills will they need? Fix it in your mind ... build up a clear picture ... and then write it down as a paragraph or two of plain, easy to understand English.
Okay, now sit back and review it, because you have just written your business plan for the next 12 months! But thinking and writing about it is only the first step; now you have to decide how to go from where you are to where you want to be.
If you want to improve your business then this is where you flesh out the detail, but only the areas that need it. So, start with writing down a couple of paragraphs that explains what your business looks like now.
Compare your descriptions of the business now and what you want it to be. Look for the similarities as well as the differences and then plan the detail of how you are going to achieve your plan. Maybe you need to revamp your marketing, or concentrate on a particular product, is your costing and profitability out of date?
If your plan is to sell and retire, then start by getting a valuation of your business now, and some honest and realistic advice about its desirability.
Most of us will have seen house makeover programmes on TV. Now, think about a business makeover programme to maximise its value, which is actually the same process as business planning!
Whether you are planning to improve your business or planning to sell or retire, you will probably appreciate some help. An outside view from a friend, your accountant or a consultant can make a big difference.
"Would you like to know more?"
This is one of the ways that I can help so if you'd like to find out more then do give me a call on 01234 752 566 or click here to ping me an email and let's arrange a free business valuation or initial consultation.
Until next time ...
If you're looking for a new accountant to help grow your business, do visit www.jvca.co.uk and discover how Jonathan Vowles Chartered Accountants can help you!
I've been an accountant in and for business since 1987 and have a wide experience of consultancy, audit, accounts, taxation and wealth planning work from individuals and small businesses to multinational corporations and charities.
My eclectic interests in growing and developing business span a number of areas … and can be summarised as strategic business advice and tax saving advice.
I have worked with the Chamber of Commerce to deliver courses for people about starting up in business and have lectured about tax for a major accountancy practice and for Milton Keynes College.
I relax by reading fiction and by getting away from the office in a campervan.