Managing Teams, Managing Yourself, Start Up / New to Business, Strategy

Do You Have a Business Roadmap to Success?

As the New Financial Year approaches now is the perfect time to put some time aside to work on your next year of business.

We love working with business owners and helping them achieve their business dreams, however we’re also business owners and believe that it’s so important to ‘walk the talk’.  This Thursday, 30th June, we’re doing what we do every 90 days and planning out our business.

We’re going to be taking a few hours now to invest in our business and will discuss the following items.

 What are our goals for the next year?

Yes, that’s right, as it’s a new financial year we will be looking at what we want to achieve this coming year. (not just the next 90 days)

Our goals include things like

  • Number of clients
  • Social Media Engagement
  • Marketing programs
  • How we want to give back to our community
  • Internal Systems we want to implement
  • New services we want to offer

Once we’ve determined our goals we then discuss the steps that are required to meet each of them.  We look for common themes and tasks and develop a project list for the coming year.

Some of the projects we’ve completed in our 6 months in business thus far include

  • Developing our Software Eco-System: As we are a modern cloud-based firm we utilise a lot of subscription services.  We’ve had to ensure that these options provide the level of privacy that our clients expect and that each offering integrates with others to provide efficiencies within our business processes.
  • Developing our Social Media posting schedule
    • It’s important to us that we provide relevant information to our followers on social media, so we’ve developed a posting schedule and set expectations on each other to contribute content.  This doesn’t mean that we don’t post outside our schedule but it does mean that we know regular valuable content is being delivered.
    • We’ve also adopted a number of social media platforms and have implemented the use of a scheduling service to further improve efficiencies in this area
  • Ensuring we meet our set KPI for networking events
    • As we are in a relationship and trust based industry it’s important that we build our networks.  Earlier in the year we agreed a KPI of networking events to attend and actions to take following attendance.
    • We have met some great connections through networking that can not only offer value to us but also to our clients.  We’ve also learnt a lot from guest speakers (and we love to learn).
  • Developed internal systems and documented these on a customised intranet
    • When a business is still small, like ours is, it’s easy to dismiss the value of documented systems and processes.  However, as a business grows, as we know ours will, systems allow a level of quality assurance.  So with this in mind we’ve been busy building our SOP manual.  Keeping with technology we’ve built an intranet that is searchable and will eventually be the “hub” of our workplace hosting SOPs, firm wide announcements, and learning resources.

Once we’ve identified projects – we break down the tasks required to complete them and identify how we will determine when a project is complete.  We then prioritise the projects based on the greatest impact to our business – and that is the one we allot to our first quarter of the new financial year.

The project(s) and subsequent tasks for the next 90 days are allocated between us with due dates and these become the items we work on over the next quarter.  Our 90 Day Plan is finalised and displayed in our work area so that we can easily remind ourselves of what we’ve planned.

We also prepare a 3-way budget for the coming year.  This includes a budgeted Profit & Loss, Balance Sheet and cash flow.  Finally, we use the Balance Scorecard method to determine some ongoing KPIs to measure.  All of these are uploaded into our management dashboard so that we can easily review how we are performing.

Finally, we continue to meet regularly over the next 90 days to ensure we stay on task and complete the projects we have chosen.  This means that any additional decisions that need to be made can be made quickly and we can ensure we complete what we started out to.

So, what are you doing to plan out your next year in business?  It’s so easy to get caught up in working “in” your business that you neglect to allocate time to work “on” your business.  We find that by simply putting some regular time aside it’s amazing what you can achieve.  If you have any questions on our process be sure to get in touch – did you know we offer this service to businesses?  We’ll even keep you accountable by contacting you (or your staff) throughout the quarter.

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