Now 2018 is coming to an end, it’s the perfect time to start planning for the new year of business! Be ahead of the game and your competitors by preparing a business plan for 2019. As a business owner, it is important to be always moving and growing. After Christmas is out the way, make sure you get back to making business progress with an effective plan!
Preparing a Business Plan for 2019 – Advice from The Kelvin Partnership
As we mentioned in our last post, it is important to use the quieter time around Christmas to your advantage! So, why not carry out an end-of-year SWOT analysis? You won’t know where you can take your business in the new year without looking at the strengths and weaknesses of 2018. If you haven’t carried out an analysis like this before, bring in support from your team, or even an external organisation. Turn to your employees to gain their opinion of the past year, and work together to implement the necessary change.
Analyse your financial situation. Only by looking at your finances will you be able to realise where you need to make a difference. Use your findings to work out a budget for 2019. Reviewing sectors of your business is key for knowing where your business is currently thriving and struggling. A Glasgow accountant from The Kelvin Partnership will confidently carry out a financial audit of your business.
Communication of New Plan
In the final stages of preparing a business plan for 2019, you should communicate the situation to your team. No matter the size of your business or what stage it’s at in its life, you should always consult with colleagues before putting a new strategy to work. Ask for input, ask questions and make sure you take note of their feedback! A new business plan is going to directly affect every employee so don’t leave them out the loop, otherwise, it won’t be successful.