This is not your average planning pep talk. It’s 4th quarter, and the path to 2024 is paved with advice and opinions on setting up your master plan for next year.The truth is, a good solid plan is always ideal in your business, but sometimes big planning eludes us. Sometimes planning is a pain. Sometimes we’re overwhelmed by the doing, and the planning takes a back seat. Let’s face it, you may not be the best planner, and you know what? That’s ok. If you can answer these three questions for yourself, your business will be better off in 2024.
- Are we going to grow in 2024?
- What do we need to do to support that growth projection?
- What potential barriers stand in our way to supporting and meeting our growth goal?
The first question begins the waterfall effect to a natural discussion on whether growth is in your future or whether revenues are expected to look the same or even decrease. Answer these three questions honestly and with intention. If you can think through these three aspects of your business, then you can do just fine without a shiny six-page presentation with colorful charts and graphs, and the pain it sometimes brings. Bottom line –whether you’re crafting your plan with your favorite pen and paper or presenting your Master Plan in a fancy format, understanding your business revenue and profitability at the basic level is foundational to moving forward and performing well.
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