Its Planning Time.

Some owners/managers hate it, others like it done for them and others just love getting into the nitty gritty of their business.

Whichever one is you; it needs to be done. If you haven’t already done so, now is probably the best time to do it as the 25/26 financial year has begun.

So, what is the best way to tackle this.  Here are some simple steps to get you going.

• List what you want to accomplish in 25/26.  The accomplishment list might include growing revenue by 5% or wanting to invest in a new website, adding an additional employee etc.  List these items and alongside this list what sort of investment you will need to allow for and timeframe.

• Put these into your 25/26 Profit and Loss Plan and see how they influence your top and bottom line, keeping an eye out on margins such as your gross profit.

• Review your 24/25 results to see how they compared to the results you achieved.

Once you’re happy with the result sign off on your Plan and Budget. It’s amazing how much this action, cements your thoughts on what you want to accomplish in the coming year.  And don’t forget to pull it out of the draw each month and review.

Not putting a plan in place. or spending time looking at last year and planning next year, is a certain way of achieving little.

Here's 5 Ps that may help you along the way.

 Proper, Planning, Prevents, Poor, Performance.

If you need any assistance with looking at your plans and how to put them into your budgets, don’t hesitate to contact me.