I am helping my clients to plan for 2023 and I thought I would share it here in case someone else might find it useful.
Annual planning is the process of developing a comprehensive plan for the upcoming year that outlines the goals, strategies, and resources that the business will need to achieve its objectives. To conduct annual planning, follow these steps:
Review the business’s past performance: Start by reviewing the business’s performance over the past year, including its financial results, customer feedback, and key achievements and challenges. This will help you to understand the business’s strengths and weaknesses, and to identify areas where the business can improve.
Set the business’s goals: Next, identify the business’s goals for the upcoming year. These goals should be specific, measurable, achievable, relevant, and time-bound (SMART). Make sure to align the goals with the business’s overall mission and vision, and prioritize the most important ones.
Develop strategies: After setting the goals, develop the strategies that the business will use to achieve them. These strategies should be based on the strengths and weaknesses of the business and should take into account the opportunities and threats that the business is facing.
Identify the resources needed: Once the goals and strategies have been established, identify the resources that the business will need to implement the plan, such as budget, personnel, technology, and partners. Make sure to allocate the resources carefully, and prioritize the most important initiatives.
Monitor and review the plan: Finally, monitor the progress of the plan throughout the year, and review it regularly to make sure that the business is on track to achieve its goals. This may involve adjusting the plan as needed, based on changes in the business’s environment or performance.
Overall, annual planning is an important process that helps your business to set goals, develop strategies, and allocate resources to achieve its objectives.
Have fun! It’s my favourite time of the year
