A Good Year in Business

Dave McKeon from Charnwood Accountants LLP  recently did a presentation to Network4Business. He set out what a good year in business might look like and how you need to have an expectation of what you require both in the short term and the medium term to measure and plan for this.

  The presentation walked business owners through the following annual business cycle:-

  1. Vision/Mission Statement underpinned by a 5 to 10 year plan with a clear 1 year Business Plan.

  2. Annual Business Development Plan meeting to present to all staff with key goals and KPI.

  3. Lets all get moving in the right direction. Moving into the Performance Review and Development (PRAD) season carried out in a top down authority line to ensure that all key goals are passed down the business to maximise the chances of success.

  4. Underpinned with regular feedback for all staff KPI’s and meaningful management information.

  5. Working towards interim PRADs to identify required changes and carry forwards.

  6. Move towards the year-end gathering information for next year’s Business Development Plan and collecting relevant information for next year’s BDP meeting.

  7. Repeat and repeat until the business shifts towards its plans. All of the above should then be linked to the businesses true break evens (Charnwood Accountants’ Profit Predictor App can help), so that we are getting where we want to be.

  8. This should then be linked to quality staff motivation rewards both in the short term and long term to bring together common goals, getting there with the people we want and need.

If you have any queries you can contact Dave directly on 01509 621 833 or have a look at the relevant page of this website.