It is time to start thinking about your business growth for 2020. The first step is to review your progress in 2019. How are you doing so far this year on these key areas of your business operations:
Finance > Budget vs. Actual - analyze each line of your profit & loss statement to see if you are in line with your budget, and if it is notably off then take the time to determine what caused you to go over budget.
Team Growth & Motivation > Have you been consistent in providing growth opportunities and motivation for your team this year? Did you have plans you did not implement? Give yourself a solid review and report card on your performance in managing your team.
Marketing > Business revenue either grows or shrinks each year. Was 2016 a year of revenue growth for your business? What marketing programs were successful this year, which ones were not, and what plans never got launched?
Facility Improvements > It is known that if you have a hole in the wall and walk past it for a couple weeks, you won’t notice it anymore. Take a look at your facility with a fresh eye. Did you plan to make improvements in 2016? Did that get done? Or maybe you haven’t had facilities on your annual plan, add it now.
Guest Experience > If your business provides for guests to enter then you need to visit your own business with the eyes and mindset of a new guest. How does it “feel” to walk through the door? What is the “style” of the reception you receive? Quality Guest Experience is proven to have a substantial impact on profitability.
As business owners ourselves, as well as providing business coaching to our clients for many years, we completely understand how time consuming and challenging it can be to create an annual plan and related budgets for your business. But we also know how critical to the future success this planning process is. If it were easy to set our own goals and then achieve them professional athletes would not need coaches, and businesses would not need business coaches either. There are plenty of resources available that relate to the value of using a business coach.
Creating, implementing, and tracking an annual business plan is one of the best times to utilize the experience of a seasoned business coach. Give us a call 619-798-6774 to discuss your current business operations and let’s outline a plan that will create business growth and profits.