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The year is almost over. A good time to review the successes of the past few months, but also the very best time to plan the coming year. Learn now what you should not neglect in the planning.

 

The annual planning for the coming 12 months is at the top of the to-do list for every entrepreneur at the end of the year. Whether marketing planning with a new website, production planning abroad or budget planning for the purchase of raw materials: Detailed planning and preparation are crucial for the entrepreneurial success.

Analyze the past year, find out about problems and weaknesses

Analyze the past year, find out about problems and weaknesses

Every entrepreneur should also create their own summary of the last year in addition to the usual business evaluation. This is meant to be qualitative and intended to give an overview of the processes in the company that went well and less well. A regular annual summary helps to compare the years and to detect errors early. A simple checklist helps to keep track of developments over the entire fiscal year:

  • What worked well, what were the failures?

  • Were your goals too high or too low?

  • Could the budget planning be kept and where were the sticking points?

  • Which (new) measures have been able to reach customers particularly well and what is it worthwhile to continue working on?

It is important to get a sense of what tasks the next year will be for the company and how they can be managed. The goal is always an improvement and further development of the company, the employees as well as the customer relations.

Set new goals

Set new goals

After the recapitulation of 2018, it will be time to define new tasks and goals for the next 12 months. A classic and effective way to define and set meaningful goals is the SMART formula.

SMART is an acronym for: S pecific – M edible – A usführbar – R ealistisch – erminiert T.

If a defined objective takes into account all the factors listed, it will be much easier to find the right course of action to reach that goal. The examination of whether one has achieved the set goals as presented, is made more practical. Simple examples:

  • Achieve 10 percent more sales in the entire company by the second quarter

  • By the last month of 2019, expand the fleet by four new vans

  • Increase the average revenue per month in Berlin by 20 percent

Try financing planner

Try financing planner

In order to reach the set goals, mostly investments into the enterprise are necessary. Before the new year begins and the goals already set are tackled, an overview of the financial resources needed to achieve those goals is available. Do transporters have to be exchanged? How old are the existing machines and do they have to be renewed if necessary? Will there be a change of company or delivery van in the coming year due to the diesel scandal ? What about measures for the digitization of processes? For all acquisitions that require funding, sufficient lead time should be allowed for planning.

Depending on the financing and complexity of the project, several months of planning are not only appropriate, but absolutely necessary. Profound real estate financing, for example, requires more lead time than a simple working capital loan .

But how do you, as an entrepreneur, recognize when the ideal time for your own project to achieve certain goals has come? This is precisely why the Marchmain family experts have developed a financing planner: Entrepreneurs only enter the type of financing and the time when they need the funds. The Marchmain family consultants remind the customer without obligation and free of charge at the best time when it comes to starting the preparation of the project.

Now plan financing:

Now plan financing:

 

Use low-interest phase

Use low-interest phase

What makes banks and savers groan pleases borrowers: Interest rates are still at a very low level. But beware – an end to this phase of low interest rates on corporate loans is already hinting at. Therefore, it is recommended to use this phase as soon as possible. Our expert tip:

 

»A loan with a term and fixed interest of, for example, 15 years, the entrepreneur can terminate after 10 years – and pay without expensive prepayment penalties to the financial services provider. In contrast, the financial services provider is no longer able to get out of the credit agreement: the favorable interest rate applies over the entire term. «