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plan 2016

It is unbelievable that 2015 is soon coming to a close!! Where has the year gone?!?! That being said, the last few business days of the year are a GREAT time for reflection for you and YOUR business….you should be thinking about yourself personally, professionally, financially, and strategically….and HOW do all of those tie into your business?

Whether you are the Owner, Manager or work on the shop floor, you need to think about these things!

1.) What’s important to me personally? Work/Life balance usually tops the list under this heading; I know it does for me. Do you have to make any adjustments to maintain this balance for the benefit of your home and work life?

2.) What’s important both financially and strategically for the business to stay afloat? Or if you have had a good year, what is important for it to continue to thrive?

3.) What pain points have reared their ugly heads in your business and they simply won’t go away? These do need to be dealt with. Relax, rest assured EVERY company has at least one thing that seems to be a sticking point to holding back on progress.

4.) And what specifically do we need to do in 2016 that would help us be more efficient and profitable? Choose one or two simple solutions and figure out how to implement them.

Setting goals and objectives for both yourself AND your company and ensuring alignment from a financial and strategic point of view is important; this is fundamental so you and your team can reap the rewards of managed growth. And isn’t this what we all want?

And finally, do you have a Business Plan that looks out up to five years for your business? I know it is very hard to be proactive in this regard but it really is a necessity. Have you honestly thought about more than two quarters ahead? I know things can go so quickly and it is tough particularly for smaller businesses to think much ahead of staying afloat but when it comes down to it: Every business needs to have a focus and this will equate directly to ensuring you remain competitive in today’s marketplace. For example, do you pay attention to things such as the changing market conditions and are you prepared to act accordingly? Having an active Business Plan can help keep you on course, both in the good times and the bad.

Don’t forget to focus on your wins from last year, no matter how minor – they will give you the confidence and allow you to gain traction and move forward. Best of luck with your planning!!

If you should need any help with any of the above points, HMC is available to assist you.

Wishing you a very Merry Christmas and a prosperous 2016 ….AND BEYOND…..