As the end of the financial year (EOFY) approaches, businesses naturally turn their focus to the numbers — a crucial aspect for business owners and their accountants.
However, amidst the hustle of balancing the books, it's imperative for businesses to not lose sight of the bigger picture: strategic planning for growth and long-term success.
This transition from number crunching to strategic planning is what distinguishes mere accountants from true business advisers. It's about more than just meeting financial obligations; it's about charting a course for sustained growth and evolution.
3 questions to kickstart your planning
By leveraging the insights and feedback from customers, colleagues and employees, businesses can identify areas for improvement and innovation:
Do you have a well-defined plan for continual growth?
Should you collaborate on establishing your business objectives with a roadmap for achieving them within specific timelines?
Understanding and addressing your customer preferences and pain points are vital, as customer satisfaction is the cornerstone of sustainable growth.
This collaborative approach not only enhances the current offerings but also informs the development of new solutions and services for the upcoming financial year.
Far too often, businesses enter each new financial year without reflecting on past performance, perpetuating the cycle of bad habits. However, with careful planning and management, businesses can break free from this cycle and significantly enhance their performance.
At Collins Hume, we offer a suite of strategies and tools designed to empower businesses in setting up a solid foundation for future growth and success. From strategic goal setting to customer-centric approaches, our expertise can guide businesses through the EOFY transition and beyond.
As the curtains draw on another financial year, let's not just settle for balancing the books. Let's embrace strategic planning as the catalyst for driving sustainable growth and propelling businesses towards new heights of success.
With a wealth of experience in top-level management, business consulting, mentoring and government advisory roles, Collins Hume Senior Business Adviser Nathan McGrath can bring his unique blend of skills and insights to your business.
Don't wait for tomorrow; now is the time to start working on your business. In his role, Nathan urges businesses to seize the moment and prioritise their growth. Call Nathan today on 02 6686 3000 or click to send an email:
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