What should you be doing over the next few months to strengthen your business and get it ready to take advantage of any upturn? The most profitable businesses we act for have two key things in common:
1. They plan and budget ahead and monitor how they are doing monthly
2. They understand that in business, as in life, unexpected situations arise and they need to have spare resources to protect themselves or to invest in a new opportunity.
So what should you be doing now to plan ahead?
It’s a good idea to set aside a half day for this activity and to think about where you want your business to be in twelve months, what your turnover and profit would be and write these down.