Adjusting Your Business Plan

You rang in the New Year. Au Lang Syne! You shook off your frustrations and losses, and set your sights of a prosperous New Year!

In setting your annual business plan, it is important to establish your short term (six to twelve months) goals and objectives (G&O’s). But you must also monitor and set earmarks against these G&O’s to better plan the longterm. It is the longterm (3-5-10 years) that exercises the macro plan and sets the corporate “big picture” vision.

If this is your first year executing your business plan – Congratulations! Be sure to monitor and analyze the G&O. Use this as a learning experience. You’ll gain insight to the realistic nature of your expectations. Before your re-track your steps, remember that sometimes it’s just a tweak that’s needed. “Don’t throw out the baby with the bath water!” This is a live and learn exercise.

If the plan has been operating for sometime, continue to monitor G&O and press for new methods and better results. Optimize your core assets: staff, equipment, and time. The following are some good concepts to consider when gauging the analysis of your 2012 Plan:

  • Have revenues measured up to expectations?

  • Is Operations and Technology, Sales and Marketing, and Administration holding true to their G&O’s? (Be sure you are receiving goals and objectives from every manager of staff and systems, and that they are in line with the organization!)

  • With the information you have through this analysis, what steps can be done to enhance performance over the balance of the year?

The first impact on your business plan is that you are being attentive! Employees (if you are blessed with them) may have done the exercise and put their respective G&O in the desk draw. Once they realize you are paying attention, they will be more attentive to their results and contributions.

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