We are just 2 months away from the new year. How are you getting ready for it? Many of us begin our end of year planning about now.
We all faced once in a lifetime experiences this year–both personal and in business. If you don’t believe it impacted you and your business, then your suffering from denial is strong with you. You should be preparing for these changes in you end of year planning or you are leaving next year’s results to a whim and a prayer!
End of Year Planning Came Early for Some
In talking with many business owners during all this turmoil most fall into one of two categories. Either they are doing much better than before, OR they are really struggling. There seems to be little middle ground. Why is that?
I believe it goes back to my message way back in April 2020, you had to take an offensive position with your business, or you got left behind. The ones struggling all seemed to have just hunkered down to ride out the storm. While they waited, everything moved down road and left them behind.
Is It Too Late to Change Course?
That depends how long you have ignored the needed changes. Your business got off course by ignoring what needed to happen.
There are some very soul-searching questions in store.
- Are you now willing to make those hard decisions need to move forward?
- What course-correction have you made since in March/April?
- What other changes are left to put you back to good?
The successful businesses took the information as it became available and made course-corrections. It may not have put them on target, but they began heading in the right direction. They made needed changes each time they got more information. Before they knew it, their business was doing better than before the crisis!
Does any of this sound familiar? It’s High Impact Business Planning (HIBP) applied during a crisis!!!
So, if you use HIBP now for your end of year planning it can help you overcome the negative impact of 2020. The only stipulation is, have you ignored things too long and sent your business beyond the point of no return.
How Did They Figure It Out?
They didn’t apply anything special to get better results. All they really did was apply sound business process and principles outside the normal end of year planning timeframe!!!
Good business planning helps you evaluate the situation and available resources. Armed with better information you can deciding how best to deploy those resources under your current situation.
Now, not all business planning processes are the same. Some focus only on strategy, but strategy without action gets you nowhere. Other forms of business planning focus on functions such as sales, marketing, finance which leads everyone to working in silos.
High Impact Business Planning addresses all 3 levels of planning strategic, tactical, and operational. Watch the video below to see exactly how it works:
Evaluating Your Resources During End of Year Planning
Analyzing your resources is an important factor in all of this. Not all business planning approaches provide the tools needed to evaluate your operation.
Our Tuning Your Revenue Engine model is part of our business planning process. It gives you critical metrics you need to determine efficiency of your business and employees.
Now you can better understand with what you have to work. Delegating become much easier. Measuring performance in achieving your desired outcome is simplified.
As a result, everyone and everything in your business becomes more efficiency. And as I’ve said so many times before, profitability is directly impacted by your efficiency.
Your Path to a Successful New Year in Business
Make your the new year a success by committing to end of year planning now. Take the time to:
- assess your current market
- evaluate your resource efficiency
- develop an offensive strategy to best deploy your resources
- outline your action plan to measure performance
- flexibly adjust your action based on performance
This is the recipe for success, and it is built into our high impact business planning. We hope you take a few moments to review the various ways you can successfully apply this powerful process to your business and have a great new year. Just click the button below to find out more.