Planning your business goals for FY20/21

05 June 2020 Kat Morgan

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As we near the end of FY20, I’m sure we all can agree that it’s been a challenging one to say the least! We started with a surging economy and low interest rates and now finish with the highest unemployment rate in Australia in 5 years. However, thankfully, we are turning the corner and the ‘normality’ of returning to the office and getting back to structure in our days is gathering some momentum.

Now it’s time to look at your business goals for the new financial year and to prepare plan and budget ready to kick off FY21.

Here are some helpful tips on how your agency can plan for a successful year ahead:

Review the past year

Look at what your successes were and look at what you could have done better in order to help create your business strategy and budget for the year ahead. Reflect on where you want your business to go in the next 12 months and how this aligns with your company vision and values.

Set long and short terms goals

Dream big. Then work on breaking these dreams into smaller specific goals and strategies that you can map out with a budget and timeline. The key is to make them measurable and achievable.

Monitor

You can’t just set and forget. Regularly review your plan and check that it is tracking correctly and in line with your budget. Make changes as required and keep your goals at the forefront of what you do.