subject: Business Strategy - Twelve months End Considerations [print this page] Business Strategy - Twelve months End Considerations
As we enter the final weeks of 2010, you are undoubtedly hunting for gifts. While these are obvious twelve months end considerations, you should also be reviewing your venture method for 2011.
Business Tactic - 2010
Whether your fiscal 12 months ends in December or doesn't, the end of the month is an excellent time to take stock of how things went in 2010. While the old saying is "time flies", it's particularly true for businesses. Enterprise owners tend to be fixated on 2 to three month time periods. As a result, they can certainly fail to see developments over longer periods of time.
After you've taken care of all your holiday gift purchases, you should have some down time inside the last two weeks of the month. Venture tends to slow down as folks deal with the holidays, travel to see family and so on. This is actually the perfect time to go back and consider the venture 12 months. Specifically, you should give attention to where your business was in January 2010. What were your goals at that time? Did you meet them during the 12 months? If not, why? You'll almost always be amazed whenever you realize how the venture developed over the last 12 months. This global view can certainly give you a better perspective and evaluation of how things are going.
Enterprise Method - 2011
After contemplating 2005, you should give consideration to what you long for to accomplish and where you want to be by the end of 2006. Ask yourself the following:
1. What is a reasonable revenue increase for 2011 compared to 2010?
2. Are their products or services you should pursue?
3. Are their products or services you should drop?
4. If a strategy is underperforming, does it make objective sense to continue pursuing it or cut your losses?
5. What are your greatest frustrations and how might you deal with them?
6. Who are your most valued employees and have you taken a moment to thank them?
7. Who are your least valued employees and what should you do about it?
8. Which vendors or suppliers do great work for you and which don't?
Several other questions will operate through your mind. One can find no wrong ones. What is important, on the other hand, is you write the goals and thoughts down and keep them somewhere private. Next December, you should pull them out and see how things are going.
