With the start of the new year, everyone is focusing on their plan for the next 12 months. But before you do that, it’s important to reflect on the past.
What did this past year look like for you? Did you achieve the goals and benchmarks you set for yourself?
Make a List
Often, you don’t truly process something until you’ve see it before you. So let’s write this down. Make a list of the main objectives you tried to achieve the past year. Now, split those objectives into two categories.
Those that were achieved, and those that weren’t.
Now, think about the differences between the two. Why was one objective achieved when another was not. Was the second objective more difficult? Was it not given adequate resources? Did you simply push it aside one too many times?
Maybe it was simply the wrong goal to have.
Either way, when you really look at it, you should be able to discern some differences between the two categories.
Take a Look at Your Goals for this Year
How can you apply what you just observed to this new batch of goals? Do you spot any potential red flags or pitfalls? Think of where you were lacking last year. Will you still be lacking in that area this year?
Have Better Metrics
When it comes to measuring your success, judging financial growth isn’t enough. You need a broader range of metrics to truly judge company health and progress. Set up measurements that will gauge efficiency, accuracy, and more.
Will You Need to Create New Positions?
Are your goals achievable with the staff you currently have? If they aren’t, you need to plan for a hire in the coming months. If they are, it’s possible your goals aren’t bold enough.
Of course, hiring for a new full-time position might not be the best decision for your business.
One great solution to assist in business planning and growth management without making a full hire is to utilize a contract CFO. They can help organize your finances, measurements, and growth so that you’re setup for a successful new year.
Contact us today to learn what Integrated Consulting can do for you. We’ll assist you in learning from the past so that your company can have a brighter future.