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 KEY DIFFERENTIATING FACTOR
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
CORE VALUES
These people will be delegated TASKS throughout the year

7. Meeting Schedule