Planning for 2023
Posted on 27th October 2022 at 10:50
It’s that time of year again when we all need to start planning for the next calendar year. At the start of 2022 we thought 2022 might have been the year when things started to settle down after the pandemic, but it’s been another unpredictable year due to economic instability. But that shouldn’t stop us from planning for next year and is even more reason to have a plan if this isn’t an exercise you usually do.
Having a plan in place is important as it gives you direction and something to work towards. It doesn’t need to be a complicated or long plan. It should collate your intentions for the year, set realistic targets that you can monitor and have action points for you to deliver against.
When you are creating your plan, you should:
• Think about what you want to achieve. What goals are you going to set and are these achievable but aspirational?
• Map out how you are going to reach these goals
• Create a set of KPIs so that you can track your progress on these goals
• Consider how your cash flow forecast will be impacted. Will you need to take any action?
• Think about your finances and whether you require additional finance to execute your plan such as employing more staff or purchasing additional equipment, and what financing options might be the best for you.
Your plan doesn’t need to be set in stone, but the important thing is to review it periodically and adjust accordingly so that there is still a plan to work towards and monitor progress against.
If you find planning difficult and struggle to map out where you want your numbers to end up, then get in touch and we can assist you. We can help you to review your numbers, create some cash flow projections and help you write an action plan to achieve the goals you have set.
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