Creating an effective business strategy

Planning for the year ahead: creating an effective business strategyAs we near the end of another year, it’s time to think about the year to come. While I’m not a big fan of locked-in budgets, creating a plan for your company is a key ingredient to success. While a business may well survive without a business plan, there is strong evidence that executing a solid plan will result in even greater success.

So, how do you plan for the year ahead?

Axios Growth Consultants focuses on four tenants that create success for our clients. The first of the four pillars of business growth is strategy. Together, we create a strategic road map that is flexible and actionable. The other critical elements are cash, people, and execution. When it comes to effective planning, we recommend understanding your cash requirements through a forecast.

The last two years should have taught everyone that having a locked-in plan may not be the best strategy. Flexibility and agility is more important than ever within an ever-changing economic landscape. Creating a forecast that determines cash needs based upon operational inputs provides the insight to form a plan that’s derived from a traditional budget but builds in flexibility. A nimble strategy like this is necessary to succeed during times of change.

Staying on track

Forecasting is just the beginning. Conducting monthly reviews of actual results compared to forecast keeps you on track and also allows for changing your course. If you update the forecast at the same time as these reviews, you can easily see how the present affects your cash. This information will then allow you to optimize your revenue plan and operations for optimal success.

If you have questions or are looking for help analyzing your data, creating a strategy, or getting on track to execute in the new year, please contact us. We’d love to help you scale your business for success in 2022!

Planning for the year ahead: creating an effective business strategy