Even though it’s an annual event for every company, planning for the next year often seems like an overwhelming task. To make it more manageable, I’ve mapped out ways to smooth out the top three stumbling blocks businesses face when planning for the coming year.
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.