At Rubiix Business Accountants, we understand the importance of planning for the future while staying grounded in your current business reality. A well-structured strategic planning session can help you align your business goals, identify opportunities, and create a clear roadmap for success. As the new year is approaching, here is how you can plan an effective session, with a suggested agenda for your initial meeting in 2025.
Where Are You Now?
The first step in strategic planning is to take stock of your current position. A clear understanding of your business’s financial health lays the foundation for setting meaningful goals.
- Review Your Financial Statements and Tax Returns
Examine your most recent financial statements and tax returns. This step provides valuable insights into your business’s performance and identifies areas that may need attention. - Assess Key Metrics
- EBIT (Earnings Before Interest and Taxes): How profitable is your business from its core operations?
- Balance Sheet: Understand your assets, liabilities, and equity.
- Business Value: Gain clarity on what your business is worth today and what factors influence its valuation.
Where Do You Want to Be?
Once you know where you are, the next step is envisioning where you want to go.
- Your Vision for the Future
Where do you see your business in five years? Think about growth, market position, and personal goals. - Define Financial Freedom
If you haven’t already developed a freedom plan, now is the time to consider what financial independence means to you. What income, savings, or lifestyle would represent true freedom? - The Key Question
If you could improve three things in your business right now, with all resources at your disposal, what would they be? Explore how you would implement these changes and the impact they would have on your business. - Set Your Goals
Decide on the specific objectives you want to achieve in the short and long term. These goals should be realistic, measurable, and aligned with your broader vision.
How to Get There
With your goals in place, the next step is creating a roadmap to achieve them.
- Use Your Business as a Tool for Financial Freedom
View your business as more than just a source of income—it is a vehicle to achieve your personal and financial aspirations. - Identify Your Critical Numbers
Determine the key metrics that drive your business’s success. For example, revenue growth, profit margins, or customer retention rates. - Set Clear Targets
Develop targets around these critical numbers and align your team to focus on achieving them. - Create a One-Page Plan
Summarise your vision, goals, and action steps into a concise, actionable document. This plan serves as a constant reminder of your priorities and progress. - Plan 90-Day Projects
Break down your larger goals into manageable 90-day projects. These short-term initiatives help you maintain focus and momentum.
Summary: The Plan Moving Forward
At the end of your session, consolidate your ideas into a clear, actionable plan.
- Define the First Steps
Choose your initial 90-day project. This should be a high-impact initiative that sets the tone for your strategy. - Assign Responsibilities
Clearly outline who is responsible for each task. Accountability ensures progress and prevents delays. - Schedule Regular Check-Ins
Establish a system for reviewing progress and adjusting your plan as needed. Regular updates keep your team aligned and motivated.
Let’s Start Your Strategic Journey
Planning your business’s future does not have to be overwhelming. At Rubiix Business Accountants, we are here to guide you through every step of the process. Whether it is refining your financial strategy, setting achievable goals, or tackling 90-day projects, we are committed to helping your business thrive.
If you are ready to take the first step, contact us today to book your strategic planning session.
Contact Rubiix today for a confidential discussion.
