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2019 Business Planning: Get Ready

It’s that time of year again…time to take out the 2018 business plan, dust it off, and see how things have gone. Now, where is that plan? In the back of the desk drawer? Under the stack of papers on the credenza?

Isn’t that the problem with business planning?

So here we are, looking ahead to the new year, excited about capitalizing on the opportunities ahead. We think about all the things we can do to better serve our clients and grow our business. We set goals and think of a bunch of great ideas to achieve them, but then we get caught up in the day-to-day, and the plan is set aside or put away…and the next thing we know…. Well, you know how it goes.

This year let’s do it differently. Now is the time to get ready:

Put together a folder or binder that includes:

  • Notepad or paper
  • Last year’s business plan (including initiatives & action plans)
  • Quantitative data reports
  • Articles you have gathered with ideas & strategies you would like to implement

Schedule a time and location (preferably off-site) for you and your team to meet, evaluate, discuss and plan.

Spend some time thinking about your progress over the past year. What has worked? What hasn’t worked?

Define or refine your vision for your ideal practice. Looking out 3-5 years,

  • What do you want your practice to be and to do for your clients?
  • What do you want it to be and to do for yourself and your team?
  • Knowing what you know now, if you could wipe the slate clean and start over, what type of practice would you build?

Define or refine your definition of your ideal clients.

  • Who are the ones you would like to clone?
  • What are the quantitative and qualitative factors that define ideal in your mind?
  • What services and resources do they need from you?
  • How can you attract more of them?

Review last year’s quantitative goals.

  • Which ones did you exceed? To what would you attribute your success?
  • Which ones did you miss? What might you have done differently to reach them?

After completing the necessary preparation, you should be more than ready to put together your goals and strategies for the new year. More on that next week.

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