New Financial Year Checklist

1. Business Plan

First and foremost – you MUST always be working to a GOAL:

  • Identify where you want “end up” at the end of the coming financial year
  • Review your VISION, MISSION and VALUES
  • Understand your TARGET MARKET
  • Ensure your business has the resources to achieve your GOAL

2.  Strategic Plan

To achieve your GOAL – you will need a strategy (or 2 / 3)

  • Set some specific tasks to help achieve your goal
  • Establish required marketing initiatives
  • Cost out the strategies

3. Organisational Chart

This is a critical document in any business – it helps all people understand their roles and responsibilities, and their lines of reporting and delegation:

  • Who does what
  • Who reports to who
  • Creates a great framework for Employment Contracts and Position Descriptions

4. Financial Budget

  • Month by month
  • Reporting on projected revenues + costs
  • Creates sales targets + cost accountability
  • Should be reviewed and compared ACT v BUD monthly

5. Cash Flow Forecast

  • The cash flow forecast will predict the cash flow impact of the budget you have set
  • Will include items not in your P&L – ie loan repayments, BAS payments etc

6. Leadership Team

  • Appoint a group that can assist you to deliver your Strategies + be held accountable
  • These people will be ALIGNED to your VISION, MISSION and share your
  • These people will be delegated TASKS throughout the year

7. Meeting Schedule

  • You need regular meetings to review status and to “tinker” if necessary
  • Monthly budget meeting – to review actual results
  • Quarterly strategy meetings – to review impact of strategies
  • Annual meeting to set the next year plan

We regularly provide information seminars and networking sessions for local businesses and business people.

All of our seminars are hosted in our office boardroom, and refreshments are provided.