Have you defined how your business with grow and look in 3-5 years.
Here at Eternity Group Accountants have realised that many business owners do not plan for the future and only focus on the immediate and short term future of their business and family.
In order to plan strategically, any business should do the following:
- Determine who are competitors and threats to the business.
- Determine the financial goals, direction and end goals of your business.
- Introduce and implement a plan to staff and stakeholders on how to achieve these goals.
- Ensure that management knows where the business will go over the medium to long term financially.
He who fails to plan, plans to fail!