EOFY Strategic Action List
When it comes to End of Financial Year, people seem to fall in to one of two categories - they are fully invested in drawing a line in the sand, reviewing & resetting business goals, projects, and pricing; or they aren’t too fussed about the self-imposed deadline and continue on business as usual. What matters isn’t WHEN you’re reviewing your business strategy, but that you are actually carving out time to do so.
With a background in accounting I’m naturally drawn to using EOFY as an opportunity to reset, so here’s what’s on my current strategic to-do list which you can use as a base for your own business. If you have a team behind you, it’s good to run this exercise with them for all or some of these items.
Strategic actions
Check in on progress toward current goals - financial and operational.
Review the numbers - what story are they telling?
Check in on your prices - do you need to put them up?
What’s changed - in your business, in the market. This can help you spot opportunities or identify threats that could influence any new goals.
Jot down new big picture goals - make them SMART (Specific, Measurable, Achievable, Relevant, and Time-bound.
Think about what operational change / actions / or efficiencies you might need to implement to support those goals and start to prioritise them. (Use this framework.io/blog/a-simple-framework-for-prioritising-improvement-projects to help you with that).
Book in your next management meeting or self check-in and set the agenda to help keep you on track and hold you accountable.
Making your management meeting matter
Your management meeting is a powerful platform for your business and is a great forum to discuss progress or roadblocks to your business goals. If you think yours could do with a little reinvigoration, click here to register for our upcoming webinar where we’ll cover everything you need to know to make your management meetings matter.