Every new year brings excitement and fear in equal measure. Will you be able to reach your goals?
How can you build a kick-ass growth plan for the year ahead? Well, just because we’re accountants doesn’t mean we can’t give you the advice you need to succeed.
We’ve seen many businesses do the right thing (and some do the wrong thing) so let’s discuss how you can improve your business in the new year.
What are your priorities?
Are you looking to grow the business or make things more streamlined and effective? Are you looking to hire more staff, or is downsizing your aim?
By asking these questions, you’ll be looking to find out your core responsibilities and aims for 2023. Naturally, this can seem quite daunting to begin with – you either have too many ideas or not enough to run with.
But once you address these issues, you’ll begin to build a picture of what you need to achieve your end goals. And by bringing everyone together, you’ll all be on the same page – no mixed messages.
Make a plan
Have you already got an existing business plan you can work off? If not, now is a perfect time to create one.
Sitting down with your business partners to work through your aims and ambitions for the year ahead, and compiling these into a coherent, structured document, will go a long way to ensuring your success.
But this is easier said than done – trust us, we know all about the struggles of actually getting your ideas down and them actually making sense.
Assess your finances
Ugh, the dreaded budget check. It’s enough to scare away even the hardiest of business owners.
But it’s unavoidable, and the sooner in the year you do it, the better it leaves you to tackle your problems head-on.
Look at your incomings and outgoings, and work out where you could save money, considering your overarching goals and ideas for the year ahead. You may want to invest more in your staff this year, for example, so you should manage your budget accordingly.
It’s also important to look at external funding sources – are there any schemes or grants you could get this year to help you out? Finding them can be very time-consuming, so we’d always recommend talking to an accountant to see if they can advise you further.
Time is money
Freeing up time to spend on planning your next moves is a vital step to having complete control over your business. As an owner, you want to be spending as little time mucking in with workloads and instead focus your efforts on creating a strategy and plan that will work for you.
But if your hours are eaten away at doing menial things (like bookkeeping), you’ll feel like you’re never able to take that next step your business so desperately needs.
If you can outsource your activities or hire new staff, you’ll have your time back, and your business will thrive.
Talk to us
If everything seems like it’s getting too much, or you simply have too many ideas, give us a call to talk about your business’s future in 2023.