Weekly Edge

Moving forward in 2014

Heather Frame - Wednesday, January 08, 2014

Great leadership requires the ability to control what is in your power to control, to give people clarity, direction, and a sense of security, to chart a course and set goals your employees believe are attainable.

As we begin a new year, it is your job as the business leader to set and communicate expectations for the year ahead. From strategic initiatives to marketing campaigns, from new positions to new product lines, your company is waiting for you to clearly set the goals for the new year.

It also falls on your shoulders right now to make sure that your financial house is in order, that you understand thoroughly where you are today, how you got there, and have a plan moving forward.

Three areas of financial focus for Quarter One

We’re all eagerly anticipating good things from the year ahead. But hoping is one thing, preparing is another. Here are three financial objectives you really need to have in order to start the first quarter off right:

1. Set Your Budget - Your budget is the financial plan for managing and controlling revenue and expenses over a period of time.

2. Determine Your Financial Goals - A big part of your budgeting process revolves around the financial goals you’ve set for the year ahead. Where do you want and need your business to be at the end of the year?

3. Communicate to your Team - we talk a lot about the importance of creating your Company Culture, or “the way we do it here” and communication is the key.

How your business does in Quarter 1 sets the tempo for the entire year. Make sure that you set the right tempo for the year ahead with clear direction, a realistic budget and the support of your team. Here's to your success!

Need help developing a budget? Just email us at info@profitedge.com.au  and we’ll

arrange to send you some tools to create your Budget and Cash flow forecast

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