Setting your goals?
The greatest trap many of us fall for is to set too many goals for the new financial year!
We have found that the most successful planning years tend to be when we have a smaller number of strategies, but with targeted plans towards their achievement. This is equally relevant in your private goals as with your business ones.
Think about your work or business situation as it is NOW. Then consider WHERE you want to take it in the year ahead. This gives you the chance to identify key business goals that you need to set.
But here's a key for success. Be sure that you next consider what your "work life balance" objectives are. Now work all this into 3 key goals.
Then have a think about what 3 key things you need to change over the next year to achieve each of these 3 key goals.
Knowing what you need to do, and knowing that it fits within your work life plans gives achievability to what you are to do.
All that's left is to document what you are going to do, how you will do it, when by and how you will measure your success. You can do this within a "One Page Plan" .... call us for a free copy, it really helps!
Link your business goals to a "Business Dashboard"
Setting goals is one thing.. but we all know keeping the focus and achieving them is the hardest part! We mentioned documenting our plans in a "One Page Plan". That's great for identifying what we need to do and when. But we also need to be able to monitor the success of these plans.
This is where the dashboard comes in!
Also by monitoring key data it also ensures that your business is on track for overall success.
Its so important to recognise the benefit of the dashboard will only be achieved if it is relevant to your goals
NCA customises and can maintain dashboards for your business.. It incorporates not only key financial data, but also measurable outcomes from your goal setting and non financial objectives.
Incorporating all key focus areas generates a "Balanced Scorecard" from which you can ensure all aspects of your business are in harmony.
Financial goals? Why not use nca as your Chief Financial Officer (CFO)?
So you have set your goals. You have documented how to achieve these goals in your "One Page Plan" and you have identified key performance measures on a "Dashboard". You're now well on your way to a very focused and potentially successful year ahead.
You may now want to consider the benefit of having your own "CFO" to help guide your business decisions.
We can "roll up our sleeves" and work with you in finance meetings throughout the year on your:
- Cash flow
- Areas of business risk
- Tax issues
As an "experienced sounding board" for you in making your business decisions, and by helping with your forward planning for achieving future targets, nca's "your CFO" service and support gives you a crystal clear focus on what needs to be done to achieve the goals of your business.
If you’d like to discuss any of the matters raised in this newsletter, contact your relationship manager at NCA on 9387 0000 or email email@example.com.
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