For numerous individuals and small business owners, the last few years have been filled with tight budgets and many challenges to maintain jobs, cut costs, and compete in their respective markets. The challenges have been brought mostly because of the state of the economy and the tight job market in recent years. As part of Attorney Bertolotto’s business law practice, he has the continuing opportunity to assist individuals and small businesses in structuring their business, planning for future business growth and sales, and long term planning.
Many hope that this year will be a year filled with great achievements, business growth, and economic stability. Entrepreneurs understand very well the value of planning, setting goals, working towards achieving them, and still have a certain degree of flexibility to modify the plan and goals as the year progresses. We have summarized below a short, non-exclusive list of steps that many are taking to develop and grow their respective businesses in the new year. The list is not meant as a static roadmap, but suggestions to take into consideration to devise a plan and foment forward thinking in your respective business enterprise to help achieve planned goals for the year.
First and foremost, you need a plan. Without a plan you are setting yourself up for failure. It is always a good thing to take a look at the big picture because on a daily basis we all tend to concentrate on details and lose track on how those work with each other to get us one step closer to achieving the goals we have set. Setting specific goals as part of our plan lends itself to keeping us focused on achieving them and turning the plan into a reality. As part of devising a plan, it is important to establish budgets and look at past years and experiences to be able to avoid surprises and minimize the unexpected. Constantly reviewing past successes and failures is a necessary tool to tailor a plan, set goals, and stay on track to achieve them.
Keeping up with and understanding the current trends and developments in our respective industries is essential to implementing a successful plan. Continuing education in our respective fields and participating in professional groups always helps to sharpen one’s skills, as well as understanding how technology can save time and money, and which technological advances make sense to invest in and implement to facilitate reaching the goals we have set.
Finally, a constant and continuing review of the plan and goals set will enable any business owner to modify their plan and make sure it is dynamic enough to overcome unforeseen challenges. The aforementioned suggestions, coupled with a solid business structure, will enhance success.