Have you made your year-end revisions to your business plan yet?  Something inevitably goes better or worse than you anticipated. That’s normal. Failing to adjust based on the variances can be detrimental to the health of your business.  Yes, this includes the positive variances.  Not planning for the impact of positive growth could later result in delays in production.

Your business plan should reflect the current state of your business and forward projections.  Your goals should be based off of where you are now and where you would like to be in the next 1, 3 and 5 years.  If your 2014 goals are based off of a business plan you created three years ago, you’re doing yourself and your business a disservice.  By not performing a year end assessment, you will start the new year in no better shape than you are right now.

I personally like the new year.  It signifies a time of reflection, new beginnings and growth.  I believe that whether in your personal life or in business, you should perform the year end activities in this order… Reflection first.  Review your business plan.  Reflect on what when right and what went wrong and most importantly, why.  Then move on to new beginnings.  This is where you set your goals for the coming year.  Finally, growth.  This is the time when you devise a strategy to achieve your goals.

A plan isn’t a guarantee but it does serve as a roadmap to guide you through the entrepreneurial waters. The best way to start a new year is… prepared.

Call to Action:  If you haven’t already, schedule time to review your business plan and set or revise your goals for 2014.