As 2010 comes to and end business need to start planning for 2011. You would not set out on a cross country trip without a map or GPS. If you don’t have a plan how can you get where you want to go? Small business should take a lesson from their older and larger cousins big businesses. Big companies have an extensive planning and budgeting process. The best way to stay a small business is act like a small business. If you want to grow your business you need to plan for growth. The planning process should consider the following items:
1. Financial strategy
2. Management strategy
3. Marketing strategy
4. People strategy.
If you are not sure how to develop a plan consider hiring a business coach to walk you through the process. It is ironic how many people will hire a personal trainer to help them reach their fitness goals but don’t hire a business coach to help them reach their business goals. Once you have developed your goals you can enter them in QuickBooks and track how the actual results compare to the goal. I encourage you to take the first step and start thinking about your goals for 2011.