Starting the New Year Right!

Starting the New Year Right!

One of the best practices at our company is to bring the leadership team together to reflect on our successes and short-comings of the past year, then build on them. We find by aligning the key players we can hit the ground running in the first quarter. Below are our steps in setting goals and priorities.
As a team, meet to create an outline and discuss what’s working and what’s not? Divide a whiteboard in two. On the left, what’s working; on the right, what’s not. Analyze every department and critique both the successes and failures during the past year. Put everything down both large and small.
Next, take the top three to five items from each side and circle them with the overarching goal to implement more of what’s working and to fix or stop what isn’t. From these top three to five issues develop an action plan for the next year.
After you’ve compiled your next year’s goals, break them into quarterly milestones – sub goals, so to speak. Assign specific goals to different individuals with the mindset of prioritizing. You can’t do it all.
Once you have your quarterly goals, individuals leave to create their own quarterly plan. Using this strategy, the entire team is on the same page, knowing their expectations and responsibilities. Success will come as you hit the ground running the first week of January with the alignment of your team.

Related Blogs
Does your Accounting Department Produce Net Income?

Coaching the Entrepreneur: Learn how to know what you don’t know. How much should I spend on accounting for my company?     I have been in the accounting profession for 32 years, and for the last 6 years, I’ve owned my own consulting firm to assist companies with accounting challenges. There is one common theme that I

Read More »
Near Sourcing vs. Outsourcing: The Key to Cost-Effective Accounting Solutions

In this insightful interview, Dan sheds light on the critical role of accounting in business growth and success. Uncover the common pitfalls business owners face when overlooking accounting and how it can hinder access to loans and financial opportunities. Learn why good financial statements are vital for decision-making and attracting investors. With the NearSourcing model,

Read More »
Is Mexico the New China?

In the wake of the COVID-19 pandemic and escalating tensions with China, American companies are actively seeking alternatives to mitigate their supply chain risks and reduce dependence on Chinese manufacturing. Nearshoring, the process of relocating operations closer to home, has emerged as an explosive opportunity for American and Mexican companies to collaborate like never before.

Read More »
WIKI CFO® - Browse hundreds of articles
Skip to content