What are your business goals for the year ahead?

Written by
MBS Advisors
Published on
January 10, 2023

What are your business goals for the year ahead?

Conducting a past-year review with an experienced advisor will provide valuable insights for this year’s goal-setting. What will you do differently this year to enable your business to thrive?

The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement.

Last year, there were inescapable impacts on businesses, with some thriving, others failing, and others just getting by. So what kind of year was 2022 for your business?

Take the time to review the year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an objective perspective can provide valuable insights to prepare for the next business year. Planning and goal setting will help provide a focus for your business efforts.

Your Yearly Business Review

  • What were the most significant impacts on your business in 2022? How well did you meet the challenges?
  • What worked well last year? What systems, technology, products or services were successful?
  • What accomplishments can you celebrate?
  • What situation, event or experience provided the biggest learning opportunity?
  • What is the biggest challenge or frustration you face as you prepare for 2023?
  • What did you most enjoy during the year? Do more of it. What did you least enjoy? Do less of it!
  • Analyse your financial reports. Are you earning what you’d like to? Is the business sustainably profitable?

Get Ready for a Great Year

While there are many metrics you could evaluate to track business performance, we’ve given you just a few ideas to inspire your business planning for 2023/2024.

If you’d like to chat about what you can do differently this year to enable your business to thrive,  get in touch today.

Share this post
Blog

Explore our latest articles

Enjoy our latest news and blog posts

5 min read

Cash Versus Accrual Accounting

Do you prefer cash accounting or accrual accounting? We can help you figure out what’s best for your business. The difference between cash basis and accrual basis accounting comes down to timing. When do you record revenue or expenses? If you do it when you pay or receive money,...
5 min read

Lockdown Leave, Pay Cuts, Reduced Hours: What’s Allowed?

There are many questions during Level 4 & 3 lockdown about the responsibilities for employers. Luckily, the Ministry for Business Innovation and Employment (MBIE) have set out all the required information. Two of the most commonly asked questions are: 1. Can I make employees take annual leave during lockdown? The...
5 min read

Managing Farm Debt – Budgeting, Forecasting & Planning

If you’re feeling uncertain about your next year of farming, you’re not alone. Farmer confidence is low, with more than 11% of respondents to a Federated Farmers survey expecting profit to drop over the next year. How you handle cash flow is important to suppliers and lenders, so even if...

Stay updated and sign up to our newsletter

By clicking Sign Up you're confirming that you agree with our Terms and Conditions.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.