Podcast Sponsor
Creating an Annual Operating Plan for Your Business: A Practical Guide

Listen to this episode with host Carl J. Cox and CEO of 40 Strategy & 40 Accounting.

Creating an annual operating plan may sound intimidating, but it’s essential for business owners aiming to make proactive, strategic decisions. In this $4M Strategies™ podcast, Sean Healy, CEO of Accounted4, shares practical advice on transforming your financial approach from reactive to proactive. This guide will walk you through Sean’s three key principles for developing a successful annual operating plan.

Start with the End in Mind

One of Sean’s top recommendations is to begin your planning by setting clear financial goals. Whether it’s increasing revenue or improving profitability, defining your objectives helps guide every decision you’ll make throughout the year.

Apply the 80-20 Rule

Sean explains that focusing your energy on the most impactful expenses, like labor costs and cost of goods, is key. The 80-20 rule suggests that 80% of your results often come from 20% of your efforts. By directing attention to the most significant financial drivers, you can maximize your business’s profitability and efficiency.

Learn from Past Performance

Using past data, like your last year’s profit and loss statements, can provide insights into areas for improvement. Sean suggests considering whether last year’s financials would meet your current goals. If not, look closely at key costs and determine how adjustments can help you reach your targets.

A Proactive Approach to Financial Success

Building an annual operating plan takes time, but it’s a worthwhile investment for any business. Listen to this episode for more insights and practical steps to guide your planning.

Ready to take control of your business’s future? Tune in now and start building your plan!

Need help creating clear financial goals?  Let us help

Podcast Sponsor: Oswego Private Wealth Management


 

 

apple
spotify
stitcher
google podcast
iheart-radio
tunein
Deezer
partner-share-lg

Listener Feedback:

Listener Feedback

Share This Podcast, Choose Your Platform!