If yours is like most companies, you typically prepare annual budgets, or profit plans, for the accounting year. But with short term changes in the business climate still a reality of our future, it’s difficult to project for an entire year. Your profit plan also needs to consider the near term.
As a year like none other draws to a close and we enter a new year with hope for brighter days and more “normalcy,” I’d like to offer you three gifts to help you get and keep your business on track and aligned for growth.
Challenges associated with the coronavirus pandemic have illustrated how unpredictable both life and business can be, and that change can happen quickly. You can’t foresee and plan for every event and change, especially those associated with external factors, but you can develop the tools to be resilient. It starts with knowing where you stand and where you want to go.
Having an awareness of the external factors that affect your business is the first step in being prepared to meet them when they come. Now is the perfect time to develop a contingency plan for your business, or review and revise the one you have in place.
Author James Clear points out that the quality of our lives often depends on the quality of our habits and that a simple 1% shift in behavior can yield dramatic changes. Learn three habits that can impact outcome and the success of your business.