As a business evolves, it will encounter the need to build credibility with outside parties, such as investors and lenders, and to make well-informed strategic decisions. In short, financial...Read more »
8 Strategic Questions Every CEO Should Ask Before the EOY
While there is still much to be done before closing the books on 2017, it’s not too early to start planning your businesses’ strategic priorities and projects for the coming year. After all, if you’re like most business owners, you’ve probably encountered change (and hopefully growth!). It’s time to reassess the year and make your strategic plans for the future.
Not sure where to begin? You’re not alone. Keep in mind strategic priorities and projects fall essentially into three main categories:
Here are a few questions we suggest every CEO should ask themselves during this time of year, broken down by category.
8 Questions Every CEO Should Ask Themselves Before the End of the Year (by category)
- (People) Have I clearly started next year’s business goals with my team?
- (People) Have I aligned my talent with my strategic plan?
- (People) What people do I need to hire next year to help me reach my goals?
- (Process) Do I have ready access to the information I need to make timely and informed decisions?
- (Process) Do I still have the right financial controls in place to protect my business?
- (Process) Has our fraud protection and communication action plan been updated?
- (Systems) Am I getting the most out of my accounting software?
- (Systems) What systems (operations, sales, accounting, etc.) do we need to evaluate, enhance, or integrated to become more efficient?
Remember, as your business continues to change and grow, so will your plans and initiatives for the future. Revisiting your strategic priorites each year will help to ensure that you are focusing your energy on initiatives that will be of the most benefit to the organization.
Lastly, if you are struggling to figure out what initiatives you would like to tackle in 2018, or where you can get the greatest return on your investment, we have a team of experts who have tackled the same issues you’re struggling with. Contact Chip Bowman at email@example.com or (804) 475-1309.