At Forte, we believe annual planning is one of the most important rituals for small business owners. It’s your chance to step away from day-to-day operations, take a bird’s-eye view of your business, and chart a strategic path for the year ahead. But how do you make the most of this process?
Here’s a glimpse into how we approach annual planning at Forte, plus some practical tips to help you prepare:
1. Look Back Before Moving Forward
Start with a clear understanding of what worked—and what didn’t—over the past year. Review your financials, key performance indicators (KPIs), and major projects. At Forte, we help clients conduct this “year in review” process to identify lessons learned and uncover opportunities for improvement.
2. Define Clear Goals
Effective planning starts with SMART (Specific, Measurable, Achievable, Relevant, Time-Bound) goals. Whether it’s expanding into new markets, hiring key team members, or streamlining operations, your goals should align with your long-term vision.
3. Break Goals into Actionable Steps
Big-picture goals can be overwhelming. Break them down into quarterly or monthly milestones to create a realistic roadmap. For example, if one of your goals is to improve cash flow, set smaller steps like renegotiating vendor terms, streamlining invoicing, or cutting unnecessary expenses.
4. Assess Your Resources
What tools, people, and systems do you need to achieve your goals? During annual planning, we work with business owners to identify gaps in their resources—whether it’s upgrading technology, delegating tasks, or securing additional funding.
5. Be Ready for the Unexpected
While planning for success is key, building in flexibility is just as important. What happens if the market shifts or new challenges arise? We recommend creating contingency plans for your top risks to help you navigate uncertainty.
How to Prepare for Annual Planning
- Set Aside Time: Block out at least a full day for focused planning, away from daily distractions.
- Review Where You Are: Evaluating your company’s current standing through an Organizational Health Survey and a RACI Matrix can help you understand how your company is doing.
- Review Your Mission: Revisit your company’s vision and values to ensure they guide your goals.
- Come With Questions: What needs to change? Where do you want to grow? What’s holding you back?
- Work With a Guide: If planning feels overwhelming, consider enlisting support from experts like Forte. We specialize in facilitating planning sessions and helping businesses turn their goals into actionable plans.
