My first year as a business owner has been rough. I went into the business thinking I knew everything, and it came back to bite me. My business was disorganized, and at the end of the year, I was left with a loss. I took some time to look at why my business was failing, and realized that I needed to make better use of my resources. I used Quicken 2016 to make a plan of how I wanted the funds for the year to be allocated. More money was allocated to areas that were lacking, while directed away from areas where not as much was needed.
Three months have passed since implementing the new business plan and things have already turned in a more positive direction. If things continue the way they are now, I’ll be able to exceed the expectations I’ve placed on the business this year. There are still some unforeseen factors that could affect how things turn out, such as the habits of other people, but for the most part, those seem to be consistent. Outside of some kind of major disaster, I don’t think anything will happen that will cause my business plans to deviate.
I’ve already begun thinking about how to take care of things next year. Most people suggest that you shouldn’t think too far ahead into the future when it comes to a business, because you never know what will happen, and you can’t predict the market anymore than you can predict the weather. That doesn’t mean that I can’t think about how I want the future of the company to be like. There are long term goals that I want to achieve, and if I don’t think about them in advance, I don’t know when I will be able to implement them.