So when the calendar flips to a new year, take the time to step back and re-evaluate your business plan. Assuming, of course, that you have one. But whether you do or do not, take the time to look at your successes and disappointments from 2007 and develop ideas and plans to make 2008 a great year.
We’ve been extremely successful in our business, and we attribute much of that success to a strong focus on business planning, execution of that plan, and continual re-evaluation of the plan. It is through the re-evaluation process that we have made decisions that have taken us from a startup ink and toner retail store to the largest business of our kind in Palm Beach County, Fla., and in 2007, to extend ourselves by training other entrepreneurs in running a successful ink and toner business.
If you are a very small business, it might just be you or a few people doing this exercise. Or you might want to involve your employees. For a larger company, it could be the management team working on this project.
Here are some questions that you might want to ask of your company:
1) What financial goals can we set for 2008? Can we continue to grow at the same rate as we did before, or can we exceed those numbers? What growth targets are achievable? What do we need to put in place now in order to meet and exceed those targets?
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