In November 2023’s Autumn Statement, the government announced…
Firstly, we wish all our clients a healthy and prosperous 2024!
Looking back at 2023, we have been amazed at the resilient way our clients have handled the uncertain economy. You have demonstrated to us how we can all be flexible and readily adapt to a change in circumstances!
We hope that by this time next year we all will be looking back on a more settled 2024. However, we have to admit that uncertainty is an inevitable part of business life.
With this in mind, for January, we are encouraging all clients to take time to prepare a 2024 Strategic Plan. A plan that will set you on a course to success.
“A sailor without a destination will never get a favourable wind!”
We all know this simple truth: It is easier to get to your destination with a plan. When you are driving from A to B, it helps to know where B is and the direction you need to take to get there.
If you have a vision of what you want your business to look like when it is “complete” then you will be able to ‘drive’ your business towards that vision and monitor how you are doing as you go along.
Without a strategic plan, you could end up like flotsam in the sea; being blown ‘this way and that way’ without any control.
On the other hand, a plan helps you to keep your business focused on the things it is good at doing. It helps you determine where to spend time, resources and money for the best effect.
How do you put together a strategic plan?
- Take time to review your own personal objectives. The business is there to provide you with what you want from life. Do not forget this.
- Look at where you are now. Assess your strengths, weaknesses, opportunities, and threats. Identify your position in the marketplace, the competition, your systems, and what you are good (and not good) at.
- Focus on where you want to be. Look ahead (say) 2 years. What do you want your business to look like when it is running profitably and successfully? This will help you determine your priorities – the big issues on which you need to focus. This is the strategic plan!
- Write your vision down (or type it up!). Define what must be achieved and the actions you need to take.
- Allocate responsibility. Specify who is responsible for doing what.
- Monitor, review and adjust. Monitor how you are doing each month against your plan and consider what needs to be done to keep you moving forward. If your plan begins to look unrealistic, be prepared to review and adjust it.
We have useful tools and checklists to help you analyse where you are now, set a strategy, agree actions and then monitor them. Please talk to us about how we can help you achieve your goals – we have helped many other businesses grow and succeed! GET IN TOUCH WITH OUR WIMBLEDON ACCOUNTANTS