Having a vision of what you want to achieve is crucial to growing your business, and formulating a clear set of goals will get you there. In this month’s advice column, Aaron McLeish shows how an organised plan is the link between dreams and reality.
As we approach the end of 2022, now is a good time to think about the future and what you want out of the next calendar year. What do you want your business to look like at the end of 2023?
By having a clear picture of what you want your business to look like you are then able to break down your vision into manageable chunks that will help you get there.
Vision to plan
When it comes to business, vision is essential. Without a clear vision, it can be difficult to set goals and make decisions that will lead to success.
> Visions drive goals
> Goals drive strategy
> Strategy drives milestones
> Milestones drive the plan
> The plan drives your weekly to-do list
Vision: What do you want your business to look like on 31st December 2023?
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Goals: What is your medium-term goal? This will show you that you are on the right track to achieving your vision. What short-term goals will show you are on track?
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Strategy: Record the challenges you face and the activities you do to overcome them.
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Milestones: Record your key metrics. Where you are now and where you want them to be in 365 days from now.
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Plan: Record the projects that you need to achieve over the next 12 months. For each one, document the necessary actions needed to complete the project.
By taking the time to develop a comprehensive plan, you can increase the chances of achieving your vision and achieving success for your business.
In simple terms, work out your goals, aims and ambition, what are you striving for? Jot this down! Once established work backwards, breaking it down into achievable smaller goals.
Breaking down goals
The first step is to sit down and think about what you want your business to achieve in the next year. Do you want to expand your services and move to renewables? Do you want to increase your profits, by expanding your team and hire additional engineers? Do you want to work less and spent more time with loved ones? Once you have a general idea of what you want to achieve, you can start breaking this down into smaller, more manageable goals.
Using hiring an engineer as an example, let’s say you’d like the engineer to start at the start of Q4. They may have a salary of £30-£40,000. What do you need to do within your business to make sure that this is financially viable and that the engineer will be kept busy?
Will they need a new van? What’s the wait time for a new van? Will the van need to be sign written? Will you finally move onto job management software to keep a track of the day-to-day?
What marketing initiatives will you put in place to ensure that hiring will be a profitable venture? Will you launch a new advertising campaign? Do you need to improve your website? Will you increase your social media presence?
Do you need to spend more money to ensure you get good-quality leads?
Celebrate success!
Take some time off the tools and dream, and think about all of the steps which need to happen to get to your vision.
Now is also a good time to look back on the current year and celebrate everything you have achieved. 2022 was a turbulent year for everyone due to rising interest rates, a rise in inflation, supply issues, and labour shortages.
Many of the business owners I have spoken to have expressed that it has been a hard year. But if you have survived it then that is something to celebrate! Something to be proud of. You might have installed more boilers in 2022 compared to previous years. You might have added more service offerings to your business. Maybe you have won an award. Always celebrate your wins!
As the director of Together We Count, Aaron McLeish is an accountant specialising in the plumbing and heating sector. Aaron is also author of The Quote Handbook. Visit the website here: www.togetherwecount.co.uk
