Published: February 04, 2009 Last Updated: September 02, 2021

What Is Your New Year's Resolution?

What is your New Year's Resolution?
The start of the year is a great time to take some time out to review your business and set some goals for the year ahead. Even though my business operates on the Financial Year, I find that the first week of January is a great time to do my Budget and Cashflow Forecasts for the year ahead. The trouble with trying to do this at the start of the Financial Year is that we are normally flat out. For this reason, I simply use this time to review and correct what I put in place in January.

So how do I do this?

Firstly, I take some time to revisit my overall Business Vision. This helps me get re-inspired and reminds me why I got into business in the first place. In some years, I may even rejig it a bit, depending on where I am at.

Secondly, now that I am inspired, I start to set some overall goals for the year. These might be Sales, Profit, Staff Numbers, Markets, Products or maybe even how many hours I want to be working. Just remember to make these goals, Smart Goals.

Thirdly, I now fill out my Budget/Cashflow Forecast spreadsheet to set clear monthly Financial Targets that I can then measure on a monthly basis. It also helps me make sure that my Goals are realistic.

Lastly, I compile my first 90 day plan for the year. This sets out the Actions I will be taking for the first quarter to ensure that I reach my Goals.

So what have you done to make sure that 2009 is a great year for you and your business?