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Business Planning For The Coming Year By Armando O. Bartolome

All business owners have the same goals: to be able to sustain the needs of their family, to be able to provide the best products/services and to become successful with their business. While they have put in all their efforts in making the business grow, there are times that they may not be doing as well as they have planned. Should it stop them from continuing the business? One question that they need to think through – “What is it that you really want?”

The previous year may have brought you different kinds of emotions- from being happy, excited, and elated to sad, disappointed or frustrated. But everything is all under the bridge and it is time to move forward. What ever happened for the past year, the coming year should be a lot better. And how do you make this happen? By making a good set of plans that should work out in making your business grow even more.

A business thrives because the business owner and its employees work together, believe in the same principles that the company adheres to and they have the compassion to provide what the customers truly need. In order to make the business move forward, the company should be able to address the problems that they have come across with and make possible solution so that if it happens again, they are prepared on how to deal with it.

Some helpful questions in making that new set of plans:

• What were the things that have contributed to the success of the company for the past year?

• Were there struggles that you were not able to provide solutions?

• Was there anything that has limited the company to become successful?

• What specific activity or plan led me to success that I may want to improve for next year?

• Were there objectives that I made for last year that was not implemented? And if there are, will I still consider implementing it next year?

Mission statements are meant to outline the goals for the owners, employees and its customers. However, some companies are not able to meet this and so it can be the basis on how you can make a better business plan for the coming year. The best kind of mission statement should focus on the goal and the strategy that will serve a specific purpose.

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