King's Lynn firm considers the coming season of parties ... and planning
As we bump into November, it’s the season for business planning and celebrating success, writes Complete Commercial Finance’s Michael Moore.
With Halloween almost out the door, we’re turning the corner into November and – along with the unmissable Fawkes in the Walks – top of the agenda this month for us and, most of our clients, is business planning.
Like most things in life, a little preparation goes a long way and, as December is usually marked by the wind down to Christmas and a well-earned rest, ensuring your teams are ready with a plan of action for 2022 is a key priority this month.
To ensure you hit the ground running in the new year, carve out some time now to review and map out the next 12 months.
Think about how far you have come this year and what changes you want to make to move forwards.
Start with your top goals for 2022 and what actions you need to take to achieve these. A good tip once passed on to me by a business coach is to map your plan into 90 day chunks which is then broken into monthly goals – suddenly a year’s activity feels realistic and achievable.
What obstacles lie in your path? If there are financial considerations, book a session with our team as there is often a funding solution to help overcome the hurdles and maintain a good cashflow. We recently published an article on growing your business and the challenges of financing expansion or servicing a new contract on our website, ccf.finance – the attached diagram shows the cashflow cycle that needs to be considered when planning growth and while we all want business success, this is an important factor to consider.
November is often the close of the fiscal year for many businesses and a natural moment to review profits and losses, revenue and cashflow. Look for patterns over the past 12 months and work with your business finance broker to identify funding solutions to stabilise your accounts and put you in good stead for the year ahead.
Events in recent months, including supply chain issues, materials and labour shortages, have demonstrated that planning is crucial to the smooth-running of a business and by taking a long-term view now you may be able to avert any potential issues that may impede your progress.
Along with business planning, November also marks awards season and a chance to reflect on success. With many industry awards schemes underway and events taking place, it’s heartening to see more face-to-face events taking place in our region once again, enabling businesses to network and celebrate their achievements.
We are passionate about supporting local enterprise and Complete Commercial Finance is sponsoring the Leisure & Tourism category at this year’s West Norfolk Mayor’s Business Awards – we look forward to reading the entries from the sector’s companies who have worked so hard to overcome the challenges of the past 12 months. If you haven’t already done so, I would urge you to do so by the closing date of Friday 19 November and recognise your team’s efforts and progress.
For more information, contact Michael Moore at Complete Commercial Finance on 01553 611619 or visit ccf.finance