Free Articles, Free Web Content, Reprint Articles
Thursday, April 25, 2019
 
Free Articles, Free Web Content, Reprint ArticlesRegisterAll CategoriesTop AuthorsSubmit Article (Article Submission)ContactSubscribe Free Articles, Free Web Content, Reprint Articles
 

Five steps to a successful new financial year ‎(dynamicbusiness)

Itís just six weeks to June 30, meaning itís time to make sure youíve dusted off your business plan and are thinking about how you can shine in FY2013.

†Hereís how you can prepare for the coming financial year in five steps.

Financial year

So here are five easy steps to help unlock the potential of your business and get the new financial year off to a great start.

Step 1: Do the vision thing

The first step is to review your current plan, assuming you have one. Not only to check that youíve achieved your goals, but to ensure that it captures your evolving vision for your business.

Budget Deficit

Step 2: Set goals

A plan isnít a plan without some concrete goals. But make sure theyíre specific, achievable and measurable, then assign clear responsibility to someone in your team for achieving each one. Create an action plan with milestones for each step, then regularly follow up to ensure you stay on track. Remember, what gets measured, gets managed, so have good tracking systems in place.

Step 3: Check your finances

Now you know your goals, you need to make sure you have resources in place to achieve them. And with the Australian economy still not firing on all cylinders, it also pays to have a cash reserve ready in case of emergencies. Start saving some of your excess cashflow, or talk to your bank about an overdraft or line of credit. Because the best time to talk to your bank is when your business is performing strongly, not when things are tight.

Step 4: Keep cash flowing

With average payment terms for Australian businesses remaining high (according to Dun & Bradstreet), your business may already be feeling cashflow pressure. And even if youíre not, itís always a good idea to make sure that your cashflow systems are running at maximum efficiency.

Step 5: Put it into action

With your plan in place, youíre ready to act. But donít keep it to yourself. Tell your vision and your goals to everyone who matters: your staff, your clients, your suppliersFree Reprint Articles, your banker and your accountant.†

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


Ramya, Chennai.



Health
Business
Finance
Travel
Technology
Home Repair
Computers
Marketing
Autos
Family
Entertainment
Law
Education
Communication
Other
Sports
ECommerce
Home Business
Self Help
Internet
Partners


Page loaded in 0.113 seconds