Mike Owen’s viewpoint: New Year’s resolutions for 2010
14/01/10
January is traditionally a time when we look ahead and think
about personal changes to improve our quality of life. Often,
though, we’ve slipped back into our old ways by February!
So whether they’re personal or business resolutions, I believe
we should be constantly reviewing and thinking of ways to improve
if we’re serious about achieving health and prosperity.
Here are my top 6 New Year’s resolutions for 2010:
-
Build a realistic business plan that truly reflects what’s
happening in your business. Make sure you constantly review and
maintain it.
-
Think about your management team. Does it have the right blend
of skills? A strong team can make your business, but a weak one
will hold it back.
-
Review your budgets and forecasts regularly. Do you manage your
business accordingly? Unnecessary surprises aren’t good for any
business and potential funders don’t like them either!
-
Increase your market awareness. Are you falling short or
exceeding your sales targets? Do you know which markets you’re in
and which ones you should be targeting?
-
Invest for growth. Could your business be achieving more with
additional investment? Depending on your cash-flow, a loan might
not always be best option and a mix of debt and equity may be a
better solution.
-
Plan for your retirement. Your business has a value and you’ve
worked hard to build it, so don’t throw away your lifetime’s hard
work!
We’re investing more at Finance Wales. Over £20 million so far
in 2009 – 10 and we’re keen to invest in your business.
So, I’d encourage you to make some lasting changes to your
business and go for growth in 2010!
What you should do now
Contact us with details about your
business.