At the end of the year it seems almost too premature to start thinking about the next year before we’ve even got Christmas and New Year’s Eve out of the way. But the Christmas period often gives people some much needed downtime to reflect and start to plan ahead for their goals and achievements for the forthcoming year.
So preferably before that 2nd glasses of wine why not take some time to think what is it you want from the next 12 months. Budgeting is not just about financial figures, but also determining your goals and what you need to do to achieving them.
First take stock of last year
Look at your financials, but also look at the achievements, what went wrong, what could you have done differently and what worked for you.
The next step
With what has happened fresh in your mind you can start to plan your objectives for the new year. This could be as simple as saying keep expensive fairly constant and increasing turnover by 10%. But you can make this as detailed as you want – The more you put in the more you get out.
Let’s look at an example.