If you’re going to grow your business in the right way this year, pinning down your goals and having a clear growth plan from the outset is vital.
What do you want more of? You may want to increase profits and create an income that supports your lifestyle (hello afternoon surf!), or you are looking to increase market share and are aiming for hypergrowth? You may have the long term goal to increase the overall value of your company to get the best return when you decide to retire.
So how do you define the goal that’s right for you?
Driving your performance over time.
Your financial model will drive the way you generate value, so it’s important to make your growth plan fit the goals and type of growth you want to attain.
To set your finances up in the optimum way, you must:
- Know what you want to achieve with the business– decide if you’re aiming for lifestyle, hypergrowth or return on investment and make this your key business goal.
- Align your personal goals with the business– so your finances can be set-up to deliver the cash you need, with the best return and the most effective tax liability.
- Track and measure your performance– allowing you to see how you’re progressing against your goal, and provide a scorecard to drive your ongoing business strategy.
Talk to us about goal-setting.
To accomplish your goals, however, you need to know how to set them. You can’t simply say, “I want” and expect it to happen. If you’re looking to grow your business, we’ll help you talk through your core vision, define the most effective goals and set up your finances to achieve these aims. And probably most importantly we’ll help you keep track so you stay accountable.
Get in touch today to talk through what you want more of in 2021.
