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Business Planning, Clarity, Strategy
Make the new financial year, your best yet with 3 handy tips

With the new financial year starting 2020 is in clear sight. Now is a great time to take a minute to decide what you want for your business in the next 12 months – in the past month I’ve spoken to enough business owners to know that it’s not happening enough, and businesses are suffering because of it!

Y’see by having some longer-term goals in place it helps to pull you through the tough days, weeks and months of running a business. Planning also helps you avoid unnecessary surprises that can put you and your business in serious financial stress. They don’t need to be set in stone, but something is better than nothing.  Having those thoughts, plans and ideas in place gives you something to reflect on in 12 months, so you can see how far you have come. From the many conversation I’ve had with business owners, leaders and managers I’ve found the key is to always take a minute to look at the bigger picture so you don’t drown in the day – to- day.

So, I’ve got 3 tips to help you make your plan happen:

1. Know your numbers and communicate them

To achieve your business goals you need to have some sense you are making progress towards them. It’s incredibly useful to make sure you know your numbers and the key metrics that help you understand what shape your business is in. This will help you be clearer in your communication with your employees about what you expect from them too. After all, it is your employees that help you achieve the results.

 

2. Give your team clarity

Employees work best when they know exactly what is expected of them and how they fit into the team. When your team is given clarity of their roles and how they contribute towards the business it gives them a sense of purpose. It can be as simple as having a conversation with your team and agreeing on what the most important tasks are week to week. You’d be amazed how much more productive people are with role clarity. The reason this is often missed is we are too busy, or not comfortable having the conversation about what to prioritise, which can result in delayed results and missing targets.

 

3. Get to know your people
You spend most of your time at work, so getting to know your people shouldn’t be a hard task. Learning what is important to your employees can really make a difference in managing your team. Everyone is different and the more you get to know your people, the better understanding you have of what conditions to create to help them show up at their best. When your employees are more engaged and enjoying work, they produce better quality work, take more accountability and work together more cohesively.

 

By taking the time NOW to think about what you want to achieve for yourself and your business you can dramatically change where you will be 12 months from now. Whether you scribble your ideas down on a napkin or take the time to put it into a document, it doesn’t matter, what you do need to do is take action NOW. So stop what you are doing – grab a cup of coffee (or a drink depending on the time you read this) and write 3 goals for the next 12 months. Trust me you will be glad you did.

 

Brendan Forwood is a co director of Sirius Impact, and teaches business leaders how to boost their bottom line by getting the best out of their people. Over the past two decades he has worked with business leaders in a variety of industries and sectors such as financial services, aviation, mining, not-for-profit, transport, construction and retail. As a business owner he understands the challenges faced by business owners, day to day, and provides practical solutions that drive business results.

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