Your 2014 Business Plan

I was recently asked what my goals for 2014 were and I automatically went to the standard ones- lose weight, keep fit, etc. But I also started thinking about what my business goals were and this led me to thinking about my 2014 business plan. What did I want out of my business for this year and how was I going to accomplish that?

Have you taken a look at your business plan in the past year or so and if so, does it need refreshing? This part of running a business is often overlooked until a crisis occurs or someone like your accountant or business consultant asks you if you have a plan at all. This is a good time of year for renewal as we are all full of enthusiasm for the new year. Here are some things to take a look at:

  1. When was the last time your business plan was refreshed?
  2. Who was involved in that process and have your employees or partners changed since then?
  3. Are you satisfied with your current financial and organizational goals?
  4. Have you looked at taking new directions to meet the needs of the future?
  5. Are you operating at capacity or is there room for growth?
  6. Where do you want to be 5 years from now?
  7. And most importantly, are you willing to take some risk to achieve your 5 year goal?

The last point often frightens people off because they are risk aversive. Change comes with some risk and in some cases, bigger risk. But if you don’t take on that challenge and take some risk, you may find yourself and your company watching the future pass you by.

Everyday is an opportunity to learn and to grow so why not take the plunge and look at your business plans for 2014. Be prepared to make some changes and take some risks. There is lots of help out there and some of you already provide that help to others. Sit down with you partners and staff and have the discussion. You may find that others are thinking the same thing and that it will be time to change or grow.