Seven ways to end the year with a plan for the future
by Leon J. Owens
As the calendar year draws to a close, many business owners think about the value of working with a business consultant…and worry that it might be too late to prepare for next year.
But when you have unmet business goals or questions about current business challenges, there is never a “wrong” time to seek a trusted advisor who can help grow the business and make you more money.
Now is an excellent time to tap the financial knowledge and business experience that an experienced consultant has in order to not only get a good start on 2016, but also to address ways to finish 2015 on a stronger operational note.
Business growth doesn’t just happen. It requires an awareness of your strengths and weaknesses, and playing to those strengths while tackling the weaknesses often makes all the difference.
Here are 7 ways that you can work to end 2015 positively and to launch a prosperous 2016. Give us a call and we’ll help you learn more about these fundamental issues:
- Review year-to-date results and how they compare with the year-ago period to develop an action plan for 2016.
- Identify or learn more about key performance indicators (KPIs) for your industry and set up a way to begin tracking those for your business.
- Realistically consider and assess this year’s progress and your current position against industry peers.
- Learn how to verify your business has the value you think it has. Whether you’re planning to sell, pass along to heirs or simply generate enough in coming years to support you, the right business consultant can help you figure out what to do now to make it happen.
- Identify the financial resources to grow your business in 2016 without experiencing cash shortages.
- Discuss your banking relationships; the right business consultant can help you create and improve them.
- Weigh the ROI you’re getting from any recently acquired equipment, new hires, or new product/service offerings.
With just two weeks left in the year, you still have some control over 2015, and you certainly can change the course of 2016 with a little planning and the help of experienced business professionals like the team at Real Estate Matters.